They've said they are working on a deal previously (recently). They have suggested they are looking at alternative in this announcement. How long that takes to come to fruitition (if it pans out) is my concern. The longer they wait more likely ASX or ASIC will step in due to cash.
The announcement refers to q2-16 and working though the next quarter. So it seems to me that They are giving themselves 3months till june17 to sort out the deadwood deals and implement a new deal. Due to cash on hand and cash burn rates you would anticipate something happening soon or they're expecting a cash injection of some kind as viability is referred to by ASX in the response I received.
It would be great if we had a surprise (rabbit out of the hat) of a new deal in next couple weeks to a month.
They've said they are working on a deal previously (recently)....
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