Ann: Quarterly Cashflow Report , page-2

Can someone help me out here...


if Im not correct, Pan Asia raised $560,000 before costs via the placement a few months ago. Yet according to their cash-flow report only $438,000 was received after expenses. What the heck happened to the other $122,000? Surely the raising costs couldn't be anymore than $10-20,000??


Very bizarre. Especially when this co. is almost out of cash. again.