Then, perhaps they can have a grand old time raising money form themselves, then paying themselves, then raising money again from themselves, and so it goes on. They have no genuine funding resources left apart from themselves, in order to pay themselves, by themselves. Even AHF is better run than this one is, and that's saying something. And AHF's promises of untold dreams, riches and cliched fortunes have all been shorter, more upbeat and actually closer to fruition than have any of PDF's (or their internal combustion board).
The ASX concerns of 2 March 2018 (responded to by PDF on 6 March 2018) actually says it all (now almost 6 months later - emphasis added to the important parts of PDF's response from back then):
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"The Securities have been created but settlement has not yet occurred. As such, PDF has not received any funds from the issue of the Securities.
The Securities are currently held by the Initial Subscriber pending transfer to s.708 wholesale investor(s) overseas once investment funds have been received by PDF. The creation of the Securities does not, of itself, constitute settlement. As such, until investment funds have been received by PDF, it currently has no payment or other obligations in connection with the Securities.
PDF’s intention is to re-comply with Chapters 1 and 2 of the ASX Listing Rules following settlement of the Securities. As part of its re-compliance, PDF will issue a prospectus to raise funds in order to comply with ASX listing rules. Until such time as PDF has certainty of funding through the issue of Securities, it is not in a position to commence the re-compliance process."
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So, it's fair to say, almost 6 months later that there is no certainty of funding NWS the previous announcements, including the F18 half year report (of 10/7/18) which stated, in part:
- "Thankfully the underlying value of our project has held up and completion of debt funding anticipated to occur during the first half of 2018."
Was this in reference to:
1. First half of F18? - gone;
2. First half of C18? - gone; or
3. First half of F19 (being the back half of C18)? - if so, then nearly 1/3 gone.
That's a lot of - going, going, gone sort of statements for not much return fodder. Since /in between then, funds have been separately raised on 2 occasions - 7/2/18 + 21/6/18.
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