While the directors can say they still have a belief they can raise more money they are relatively immune from trading while insolvent. If PDY come out of suspension without having finalised additional funding there's a chance they'll run out of money, without being able to say they have a reasonable chance of finding additional funds.
What PDY really needs is a creditor to call a debt (if there are any outstanding) and put them out of their misery. As soon as that happens it means they are unable to pay their debts when due, so they are insolvent.
However, since "Gary's going to China" + "Bring it on" = "Plenty of cash" this isn't going to happen.
PDY Price at posting:
0.7¢ Sentiment: None Disclosure: Not Held
