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Ann: Update on Financial Reports, page-10

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knowwhat

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248

30/03/24

13:51

Post #: 73123892
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Originally posted by KymChy: ↑

IIRC the loan is secured against the company assets. So if they default where does that leave them and shareholders?

Also re the re auditing; if they knew what was missing and the auditor has told them what they need to "find" and it was "found" and supplied on the15th, one would think it would be a rapid fix and they would be on the road to lifting suspension?

Do you think that the directors guaranteed loans would have been paid off from the $Mil ?

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If they default there is nothing left for shareholders. The secured debt of around $1.1m plus the money still owed on the Frankly acquisition of around $700k plus legal costs would exceed anything they would get for the assets.

MRI Price at posting: 0.9¢ Sentiment: None Disclosure: Not Held
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