RE: Supportive board of directors13 Mar 2025 19:19
Since the end of the period, the working capital loan facility provided by chief executive Steve Bassi was raised from $2.5m to $3m. He has promised not to demand repayment until the group has cash to pay. Directors have deferred salary, which achieved savings of $500,000 in the first half, until sufficient revenues are being generated. That means that the company should be able to meet obligations.
The focus is the SocialCyber platform, which will provide recurring revenues. Narf could inject this open source code protection IP into a joint venture. This would bring in additional finance.