how, when mngt already forecast a loss in 12 months time...!
how will the loss be funded, how will current ($37M!!!), let alone future, debtors be paid?
how will admin burn rate be financed?
who (which bank and at what risk premium - interest expense on eventual debt will be astronomical!) will finance the above?
answer: shareholders WILL foot the bill....cap raise is unavoidable IMHO...
you have instos who WILL sell every share they have...6M shares sold and climbing.... daily vol will be huge...
sale of surf hardware is smoke n mirrors.
The former foiunder should burn - legal proceedings will choke this either way. He exited stage left in a hurry, sold the "mngt takeover story" while probably divesting all his holdings, told his buddies to sell and walks away skase style to the bahamas....!!
wow...
run. run fast.
GLTAH
Ann: Company Update-SRF.AX, page-160
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