last quarterly had 540k left with expected outlfows of 1060k
to add to its woes, is it already bankrupt ?
IMO, worst outcome is not unimaginable, possible, that this now goes into administration.
Then one possibility for example, the assets are taken by a Deed of company arrangement from an buyer, who offers shareholders 1 in 100 consolidation, into new entity.
Korda mentha, or such might be the next thing we are talking about.
The shareholders need to approve the transaction, or get nothing. But there can be multiple offers if more than one party submit DOCAs for the assets. Not sure who suggests the best offer to vote on, directors or administrators. eg a better offer might put a 10-1 consolidation to shareholders.
Could the shenanigans play out, that the existing registry is shafted 100-1 for example, and one of the directors, or other parties, steal the whole show ?
(at what point is ASX responsible for the complete destruction, and disabling of the stock to raise funds on market?)
