something might be known next week IF a list of creditors is made and published incl $$'s claimed.
IMO there could have been a claim by or about this CGT dispute. The Moz Gov't may have sent the "Assessment" with TON having some liability issues.IF this event occured? and was basis for not meeting the 24/6 $1mil 90% instalment AND grafex then invoked that clause that all previous 90% instalments were forfeit and grafex retained 20% AND expected CGT part or even full payment from TON.
if all those if buts and ands strung together?
well there's a reason for calling up Administration. in fact it could all have 'peaked' on the day after Tue Outlook Statement and day before Thursday Admin.
Triton may well have the $1mil raised but Grafex is demanding/requiring much more.
A Higgo skeleton of past Management Deals?
If you've only got $4mil in the Bank and all this creditors you raised it for suddenly are joined by 'out of the woodwork' claims on the budget eg Cap Gains Tax Bill that could be for million$$$.
well that's insolvency issue requiring Administration.
Next Week there should/could be a list of creditor claims. who and how much. The 2 nd Meeting by mid April will present the Administrators 'scheme' for paying these and perhaps some other findings too.
unfortunately the March Qtrly cash at Bank is not due til End of April but just maybe a Cash at Bank figure will also be given next weeks admin meeting.
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TON Price at posting:
6.1¢ Sentiment: Hold Disclosure: Held
