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Defenx – don’t investors deserve an explanation as to why an audit has not been able to be finalised in six months?

By Steve Moore | Wednesday 3 July 2019

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Previously writing on cyber-security software group Defenx (DFX), in October I reviewed “First draw down under the Convertible Loan”… but much more needed? – concluding …a current 10.5p share price and Defenx has stated “the board believes that the business will become cashflow positive during 2019”. However, on December 2015 AIM listing the company emphasised itself as “fast growing, profitable and cash generative” – and it joined at a 148p per share placing price! Certainly still on the bargepole list; sell. Now it’s been “Suspension of trading on AIM”

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