CHM have to pay - $112,500 by the 17th Feb $29,274 3rd March...

CHM have to pay -
$112,500 by the 17th Feb
$29,274 3rd March
$112,500 2 weeks before court case
$15,000 per day in court
They have costs of about $30,000 per week to run the company.
The 3rd and 5th defendants can ask for more security.
They still have to pay the previous law firm.
CHM has $99,000 cash.Assuming a 7day court case that is about $700,000 they have to find in the next 3 months.
I am not bashing CHM but surely even the most loyal CHM holders must be asking questions.These costs did not suddenly appear good management would have done a cash flow budget before they even took on this case.Even if you win the court case does that guarantee a cash payment.We are talking serious money I wonder who is prepared to throw this kind of money at a company that has nothing other than this court case.CHM have been in trouble with ASIC before and this amount of money is enough for them to have a lot of attention from ASIC in the next few weeks.
Good luck
Tooli