Share
5,224 Posts.
lightbulb Created with Sketch. 2
clock Created with Sketch. 04/03/16
00:19
Share
Originally posted by ASXIOU
↑
Honestly everyone, you need to take off your rose tinted glasses. Enough is enough. I don't like to see anyone lose money but even in the state that TON is currently in you are still talking conspiracies and thinking there is something more positive happening (takeover lol) other than the obvious. TON do not have enough cash to meet their current and upcoming obligations, they have obviously explored some further capital raising opportunities but no one wants to touch or help them. In this situation, in order to avoid possible criminal liability, the board has no choice but to place the company into Voluntary Administration. It's really that straight forward.
Expand
Not enough cash to meet current or future obligations is highly plausible. However, there was no mention of the immediate need for further capital in the positive strategic update which took a trading halt and 3 days to prepare. Wouldn't this strategic dependency have to be included. This is the part that has dumbfounded shareholders. You are confident of progressing and literally one day later the company has completely unraveled.
