Key BoD Assumption27 Feb 2024 10:32
They have said end of this week if sale/fianancing does not progress, they will start ‘planning’ for administration. Now this may or may not happen as it’s due…why would the suppliers ‘withhold’ the cash receipts unless they are trying to stitch this company in the time of need?
Whilst the Company's cashflow model shows positive cash balances to the end of March, the Company's Directors are becoming increasingly aware that certain contracted cash receipts may be withheld, therefore bringing forward the date, absent any further funding, on which the Company can no longer solvently trade.