I'm just doing some research on CSS and there's a few things I'm curious about.
Why do they have borrowings of $456k when they have cash or cash equivalents of $4.4m?
Why does the YTD operating cashflow figure in the December quarter report differ to the figures in the 2013 half year report? Given they cover the same 6 months surely they should be identical. Same with the investing cashflow figures.
Why are they doing a deeply discounted and massive capital raising, ie 300m new shares, when they have net cash of $3.9m in a company whose restructuring has, in the December quarter, brought them to being nearly operating cashflow neutral?
Surely the cash on hand would suffice to grow the kingfish stocks to a greater level gradually without having to resort to such a capital raising until the overall performance and share price has improved.
The CR smacks of desperation in terms of pricing and number of shares.
CSS Price at posting:
1.7¢ Sentiment: None Disclosure: Not Held
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