I disagree that its correct to depreciate the value of around $1.3m in "trade or receivables" and "inventory" to $0, since it represents "hidden cash". Its hard to know what the current costs are for the 6 months to end of June, so I think your statement of "no cash" could easily be considered over dramatic.
The delay in certification and approvals will mean a longer and uncertain time before sales revenue picks up, so fund raising might well be prudent but I don't think its as urgent as you make out.
If you really think the share price will end up at 3c in 3 months it would make sense for you to sell all of your shares now.
Results Of General Meeting, page-13
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Last
16.5¢ |
Change
0.010(6.45%) |
Mkt cap ! $129.4M | |||
| Open | High | Low | Value | Volume |
| 16.5¢ | 16.5¢ | 16.0¢ | $23.08K | 143.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 49548 | 16.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 16.5¢ | 73836 | 2 |
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| Last trade - 16.10pm 29/11/2024 (20 minute delay) ? |
| OIL (ASX) Chart |
