How can we tell if legal fees all factored in? It's not disclosed in the Appendix 4C. We need to wait for the half year review.
If legal fees circa $100,000 (I'm assuming they would be required to hire a barrister in addition to the legal team they have already hired, to attend court hearings. Barristers do have not low charge out rates) and other creditors as at 31 March is more than $100,000 also then ICI could be technically trading insolvent currently as it is not in a position to meet its obligations as they fall due.
Judging from the 4C and year end audited accounts, I also assume that the full payment to AB1 has not been paid.
Another round of capital raise?? LOL.
ICI Price at posting:
5.3¢ Sentiment: Sell Disclosure: Not Held
