AED 0.00% 14.5¢ aed oil limited

rush job

  1. BT
    377 Posts.
    Seems to me rush job of late needs some answers - here goes:

    Half yearly accounts due last Friday, not lodged, I wonder why - like Allco, ABC etc. auditors will be reluctant to say AED can continue as a going corcern and directors would be sticking their necks out to say it is.

    Therefore had they not suspended the stock ASX would have done it for them

    AED currently is insolvent and therefore in default on banking facilities and convertible notes which means all due and payable now!

    Bottom line is sell now rather than end of March to anyone or risk Receiver & Manager doing it on behalf of banks and note holders.

    Not a good position to be in and if management were not so greedy about keeping control, could have placed 20M shares at 5 bucks last year to lessen the risk and avoided the current fiasco!
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