The pros and cons of MNS., page-933

No, this company is already insolvent, IMHO.

With $28k left in the bank as at end of last quarter (31st March 2024).

There aren't enough money to pay for:

1. Interest of 5% per month on circa $4.5M loan,

2. Wages and salaries,

3. Rental,

4. IT costs (lol),

5. Maintenance costs on graphite leases,

6. Legal Expenses to defend against ASIC,

7. ASX annual fees,

These are just a few costs I could think of. But the company only has $28k.

They will need at least $250K this quarter, just to drag this onto next quarter - on the forlorn hope something might eventuate.

IMHO, its all gone. Reputation is gone. Company is suspended, so can't raise any capital. Nobody is going to do a deal with a company with only $28k cash left and facing lots of legal issues.

The cupboard is almost bare.

Short term lenders will be concerned about whether they will get any money back!!!