The company is 100% doing the final Tranche. There is no reading between the lines etc etc on this
There are multiple confirmations of this, even most recently in the last market presentation. It will be put to a vote at the AGM. The company is pretty strapped for cash despite the improved EBITDA. For anyone questioning this take a look at the most recent 4C, the stated cash burn and the remaining cash balance. What is infuriating is that the Chairman has stalled any progress of the story. He is placing his interests above all shareholders and failing in his fiduciary responsibilities. Not that he would know anything about that
The company is attempting to launch multiple products in the coming 12 months which will require additional working capital to get off the ground. Tranche 5 is coming people. The only question is whether the Chairman will attempt to renegotiate the performance terms etc. Given the failings of this board historically nothing would surprise me.
I love the optimism of others. So many great elements to this turnaround, unfortunately, Hollywood Norman continues to undermine the good work done by Tony and the team.
FOD Price at posting:
4.3¢ Sentiment: Hold Disclosure: Held
(20min delay)