RE: 1 for 25 consolidation proposed by BoD4 Apr 2025 08:21
On the last placing it stated:
"Based on the forecast activity schedule the Company is now funded for at least the next 12 months, with net proceeds of the Placement, together with the Company's existing cash reserves (A$17.5 million as at 31 March 2024, unaudited), directed towards":
So the 12 months has now passed and it has about £10,000,000 in cash. So last year it raised $9,000,000 when it had $17,000,000. So it spent $16,000,000 over the year. Now it has consolidated it shares you can bet the bottom dollar that there will be more placings and God forbid if it carries on spending like this could issue another consolidation and it is rinse and repeated.
lucky it is not funned with phoenix and has a free carry. I hope things turn for you guys. But this consolidation now allows the company to start issuing more shares again and it starts all over.