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4.2¢ magnis energy technologies ltd

Magnis holding up incredibly well., page-110

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azzam_e

95 Posts.

16

11/09/24

23:45

Post #: 75636387
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Originally posted by Cosmoterios: ↑

Actually, many are ex-holders; here to exchange a bit of banter until the outcome of the ASIC case or the appointment of the Administrator/Liquidator to the company.

The day of reckoning is coming. Then all stakeholders, including ex-shareholders will get a chance to find out what had happened and where it went wrong.

IMHO, its not that far off now, as the legal fees alone would chew up a few hundred thousands every quarter.

In any case, if you are here, hoping for a miracle, you will likely be disappointed (IMHO), as the company is carrying over $5M in debt, no income to pay for it, and little to no chance of getting ASX to lift suspension (that means, unable to raise capital).

And only $90k left in the bank.

So how would it be able to service the Debt at interest rate of 4.5% per month? Just one month of interest alone is $225k. Add on the rental, wages and salaries, electricity, insurance, legal, etc etc etc. You see where this is going.

Just a matter of time, IMHO.

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You are kidding right?

These same non holders been at it for years now. well before any so called legal battle. so cut the crap and stick to facts. They are ex employees, not holders. They have been slinging dirt from day dot of their termination

MNS Price at posting: 4.2¢ Sentiment: Hold Disclosure: Held
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