Little Timmy isn't too good at proof-reading his market releases...
It's a good thing that he's said that the 31 December figures are unaudited, because the chart says that the figures are in thousands (that's what the $`000) at the top means.
They're not. They're just $s
They don't have $858,773,000 in cash; they just have $858,773.
If they'd asked the auditors, or just some troll from HC to look over the rights issue document, they would have spotted the error.
They don't have $40M in shareholder equity, they have $40k.
Which is why the 4C shows they have less than a quarter of cash left, and why they're doing the cash raise, and why the share price is below the issue price for the raise.
I don't think anyone, except for JK/NK will be buying.
SP1 Price at posting:
$1.07 Sentiment: None Disclosure: Not Held
