This company is DEAD.
Once their current cash runs out, that's it.
1. No credible organisation will deal with them.
2. It's impossible for them to do a placement.
3. There only hope is to ask existing shareholders for more money. That's unlikely to raise much money.
4. They'll be unable to sell any assets since any potential buyers will just wait for administration.
Management have painted themselves into a corner. There is no way out. I hope long term shareholders vent their anger.
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