This company went to its AGM in October sprouting record revenue and deal pipeline and within 3 months has written off $150-$155 million.
It's net asset position was $213 million at June 30 and is now down to $65 miliion, but that's before revaluing the $40 million in intangibles/goodwill. Assuming this get's written down by 50%, Net assets is now circa $40 million.
They've activated the 15% cap raising for a reason - they need equity fast to survive.
If you really love this company, you'll get plenty of opportunities to buy today at below 88 cents.
Don't fall in love with your position.
FGE Price at posting:
90.0¢ Sentiment: Sell Disclosure: Not Held
