Thanks for your post wllm. With the ann of Dec 16 telling us that "As a result of the payment of the November cash-call ...... Alliance has a cash balance of approximately $180,000" it is no surprise that cuts have had to be made. Thanks to the MD (I assume) for doing that. But very worrying, knowing the vagaries of the courts.
I can't quite get my head around the other directors taking up their entitlements though. Isn't that dependent, on the 50% condition? I thought that in the supplementary the 50% was only removed for Abbotsleigh. (will have to read again).
I too believe we have to support the company at this critical stage. I wish though that it was a more even playing field. With funds so critically low, there is always that huge spectre of insolvency. And we know that shareholders are at greater risk than directors and creditors; at greater risk than whomever can convert a loan to shares in the entitlement "offer". We can't de-risk our take-up.
But on a more optimistic note .. Our JV partner, who calls the tune, must eventually pay the fiddler; and a motza at that !
AGS Price at posting:
7.4¢ Sentiment: None Disclosure: Held