My understanding of ASX rules is all companies on the exchange must be solvent. Yes the director did sign the Dec accounts saying company should be able to pay accounts when they fall due . And yes there new CFO. But suggest spend $77 dollars to see if the company paying its accounts on time. You will see judgment march 2018 and various new court actions jan feb march 2018. Suggest listing will take time until company can clearly demonstrate they are solvent and will treat all creditors the same .Not just the creditors that suit to pay . More than happy to cut and paste the credit report friday.
Very surprised ASIC has not taken action against the company and directors for insolvent trading .If staff and suppliers are not paid on time. It insolvent trading. But I'm sure they will get around to it.
EGS Price at posting:
23.3¢ Sentiment: None Disclosure: Not Held
