Well yes, but these guys have been burning close on $1m a month for some time looking at the investor releases. With no new sales announced in the second half and no announcements on cost cutting its fair to assume that will have continued. The new businesses / technologies came along with no indication of turnover or profit so i think its fair to assume that if they arent shouting about it then at the very best its break even.... but its probably nowhere near that.
So how many months will the rights issue and whats left of the Argosy money (after using most of it to buy their own business/technology) last for i wonder?
So frustrating this stock as it looks like a decent product that unfortunately carries a cost base way in excess of how much they can sell it for.
UBN Price at posting:
7.5¢ Sentiment: Sell Disclosure: Held
