Kalina Power Limited (ASX:KPO) Addresses ASX’s Financial Queries
Financial Position
Kalina Power Limited (ASX:KPO) reported an unaudited cash balance of $211,773 as at 25 February 2025. The company also highlighted a negative working capital of $312,501 and negative equity of $2,715,394 as of 30 June 2024.
Fundraising Efforts
KPO is actively raising funds through a February placement with commitments of approximately $1.5 million and a non-renounceable rights issue targeting $1.04 million. These initiatives aim to provide around $2.5 million in working capital. Additionally, the company is negotiating project development agreements with Crusoe Energy Systems LLC for its Power-CCS projects and exploring the sale of strategic project sites in Alberta.
Going Concern Assurance
Despite anticipating continued negative operating cash flows until the first project is constructed and operational, KPO expects sufficient working capital through its fundraising efforts. The company’s directors remain confident in its ability to continue as a going concern, supported by the planned capital raise and ongoing strategic initiatives.
Motley Fool contributor Lianne Eastty has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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