it is not bad luck rather bad execution, page-31

Hi,

The more I am digging into the info being released by TB and company, the more worried I am. Is TB taking us for a ride?

As per last Quarterly

Cash in Hand = $31.4 Million

But this does not give us the true picture. The true picture is revealed in form 10-Q as lodged with US.

Cash in Hand = $31.4 M
Current Receivales = $ 2.58 M
Current Payables = - $9.65 M
Real Cash position (31/3/12) = $23.7 M

This quarter expenses must be around $6 to $7 million at least if not more

So current cash position = Approx $16 to $17 Million

And we have a $14.2 M lease committment with Rig starting from 1 August 2012 for 18 months.

All the issues/problems are costing us a bundle and these are hidden under payables to placate shareholders.

Wake up guys before TB taps you on the shoulder for SPP or more dilution.