good pick-up cadrifter.
the asx releases/qtrly say UNS only has cash until Sept16.
in Aust anyway, not only is it illegal/severe penalties for directors to allow coy to trade whilst insolvent, but it is also illegal for directors to enter into any agreements/loans/creditors etc, when a reasonable person would deduce that the coy would not be able to repay those debts.
so as you point out, UNS has just entered into an agreement with supplier to pay them monies after the end Sept 16.
so one would presume that directors have a strong belief that they will have the funds to pay that supplier?
I guess the supplier could have got UNS to put up surety? eg bank guarantee, but I doubt it.
so a glimmer of hope???
cheers
UNS Price at posting:
5.7¢ Sentiment: None Disclosure: Held