STX 1.16% 21.8¢ strike energy limited

From the half-yearly, Hope the negotiations with CBA are...

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    From the half-yearly, Hope the negotiations with CBA are positive...

    "As detailed in Note 15, the Group has a banking facility which provides pre-funding for eligible R&D expenditure.Proceeds of the Group’s 2018 R&D refund were expected to fund the facility repayment on 30 March 2019. Howeveras announced on 23 January 2019, the Group received an adverse finding from Innovation and Science Australia (ISA)regarding its 2017-18 (Jaws) R&D tax incentive claim. The ISA review process is expected to take 6-8 months whichmeans there is now misalignment between the expected receipt of the R&D refund for 2018 and the repaymenttimelines of the CBA facility. The Group will either need to renegotiate the terms of the CBA facility, refinance thefacility or raise additional funds. The Group is currently in discussions with CBA to realign the facility with the expectedtiming of the R&D refund.In the event that the Group is unable to renegotiate terms or refinance the CBA facility or raise additional funds, amaterial uncertainty would exist that may cast significant doubt on the Group’s ability to continue as a going concern.


 
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