Latest Going Concern News

Multistack International has announced the discontinuation of its current business operations following a significant asset sale that settled a $3.55 million loan, signaling a major strategic shift for the company.

Patrys Limited has announced a fully underwritten entitlement offer to raise approximately $1.77 million, aimed at funding ongoing research and development of its PAT-DX3 therapy and supporting working capital. The offer includes secondary options and shares, subject to shareholder approval, and will significantly expand the company's capital base.

Openn Negotiation Ltd reported a significantly reduced net loss of $3.93 million for FY24, exiting voluntary administration with new directors and a recapitalisation led by ST Holding 2 Pty Ltd. The company faces challenges in regaining ASX compliance and identifying new business operations.

X2M Connect Limited has announced a non-renounceable entitlement offer to raise approximately $2.26 million, issuing new shares and options to eligible shareholders. The capital raise aims to strengthen the company’s balance sheet and support AI platform enhancements and market expansion.

ASX Compliance has formally questioned Rewardle Holdings Limited over delayed disclosures, financial inconsistencies, and governance concerns tied to its investments in Pepper Leaf, Beanhunter, and CloudHolter.

Group 6 Metals reported a $23 million loss for H1 2024 amid operational setbacks but completed a major $81 million debt-to-equity recapitalisation, setting the stage for a strategic turnaround.

Power Minerals Limited has launched a new options offer linked to a recent $1.3 million placement, alongside updates on key project acquisitions and divestments. The prospectus outlines significant risks and strategic directions as the company navigates growth and financial challenges.

Elanor Investors Group updates on its ongoing asset divestment program, debt covenant negotiations, and corporate governance reforms as it navigates balance sheet challenges and strategic options.

Next Science Limited has agreed to sell most of its assets to Demetra Holdings for US$50 million, with plans to return an estimated US$30 million net proceeds to shareholders pending approval.

Multistack International Limited is set to sell all assets and liabilities of its operating subsidiary to Super Link Company Limited, marking a strategic exit from its loss-making industrial cooling business. The company will retain a small net asset base while exploring new business opportunities.

The Star Entertainment Group is asking shareholders to approve a $400 million strategic investment package critical to its survival, involving convertible notes from Bally's and its largest shareholder. This move aims to secure the company’s future amid ongoing legal challenges and financial strain.

Donaco International Limited has entered a binding acquisition scheme with On Nut Road Limited at A$0.045 per share, deemed fair and reasonable by an independent expert. The Board unanimously recommends shareholder approval ahead of the August 2025 vote.