Ann: Trading Halt, page-5

I predict- a new CEO......

someone is in trouble for the poorly crafted announcement, they have admitted that they have to "provide the ASX with further details on the clients".......

My guess it is around the $23M in letters of intent which may or may not eventuate in Q3 - the PPA still needs to be agreed, so not sure of in the quantative value of the announcement.....

LOI's are common, its the equivalent of Lendlease announcing that they have an LOI to build Olympic stadium for 2028 IF Australia wins the bid to host the Olympics!!!

I did hear a while back $23M in contracts were going to be announced, however this isn't a contract it is a binding letter of intent- the ASX has probably asked who the client is and terms around the Binding Letter of Intent- eg can they pull out if they get a better quote in 9 months time etc

My sources tell me that the big man upstairs plans to hand over the reigns of CEO to Ian Lynas on the back of some poor results.
- Revenues for the full year are less than $30M
- Loss in excess of $2.0M
- I thought they had an exposure to Cooper Oxley?

Yes, I think they tried to upsell this announcement ... Perfect in setting the scene for Ian Lynas to take the reigns as CEO.

Not all lost- still $10.0M in the bank and no Debt.

My logic- if the loss is $3.0M, run rate of Sales of $30.0M PA (basically $16M cash less $3.0M, less $3.0M working cap draw) don't know factually - just an educated guess.