I agree @GT55, ADG unlikely to be trading insolvent right now, but it's remarkable how quickly the transition can be from 'going concern' to 'insolvency'.
A different company comes to mind (WMC) as an example of a quick transition from entitlement CR to VA...
- 24/05/22 - Non-Renounceable Entitlement Issue Prospectus
- 17/06/22 - Entitlement Issue - Shortfall Notice
- 05/07/22 - Drilling Update
- 06/07/22 - Board and Management Changes & Strategy Update
- 20/07/22 - Trading Halt
- 21/07/22 - Appointment of Voluntary Administrators
For a variety of reasons investors became weary of being repeatedly asked to pump cash into company coffers : long-term SP carnage, volatile Market circumstances & insufficient working capital to bridge a CR shortfall. Similar red flags seem to by flying over ADG unfortunately.
STOP PRESS, page-4
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Last
0.4¢ |
Change
0.000(0.00%) |
Mkt cap ! $4.471M | |||
| Open | High | Low | Value | Volume |
| 0.4¢ | 0.4¢ | 0.4¢ | $501 | 125.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 30 | 24751635 | 0.3¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.4¢ | 1646870 | 4 |
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| Last trade - 10.00am 04/10/2024 (20 minute delay) ? |
| ADG (ASX) Chart |