Nothing much as far as the company we know is concerned. This will most likely become a shell, and they'll bring on management that is experienced with handling RTOs (reverse takeovers).
Currently they have somewhere between $2-4 mil (according to last quarter ending wIth 4 mIl, and expected expendIture for following quarter being 2 mIl). They will be trying to obtain some R&D rebate (so hopefully should add a bit more cash to the balance). They will be looking into what can be done with the IP, I doubt much? But who knows. If they can keep a balance above 4 mil, then that'll look good as an RTO target.
As far as what it all will likely mean to the current investors, it's very unlikely we'll see much come back. RTOs generally only benefit those that can time their entry before a deal is made, rather than being of much benefit to existing shareholders of the company previously operating prior to the shell.
So for all of us this is basically just a CGT offset now, and a learning lesson for some.
FTT Price at posting:
0.3¢ Sentiment: None Disclosure: Held
