Why did they not chase up Deloittes for the correct figure?
Why announce a figure, when you know it is not confirmed?
Why not announce that the figure could be in a range of up to $2.5m?
How come Werble and myself both could come up with an estimate over around $2.5m but the company's estimate was so far out? (mine based on similar companies, doing similar spends in the US).
They state that: "The cover note to the Appendix 4C however makes clear that the amount noted was not final, was in process and was subject to usual review... The Company’s future cash position may also be impacted by receipt of a payment in April/May 2019 of approximately $1.2 million under the federal government’s Research and Development (R&D) Tax Incentive Scheme. The Company is in the process of preparing a claim for this payment as part of its annual tax return submission; however, receipt of these funds is subject to the usual review processes, particularly in relation to the Company’s Overseas Finding."
It states the $1.2m and that the receipt of THESE funds is subject to the usual review. So that infers that the may not be as high as the $1.2m stated. At no point are shareholders informed that the final figure could be higher!
And all this is happening as they are shipping out loads of cheap shares to TC, causing lots of shareholder dilution and making their positions safer!
FTT Price at posting:
0.4¢ Sentiment: None Disclosure: Not Held
