annual report – highlights!

Here are the highlights from the Annual Report that came out today!

•$7 million in outstanding short terms loans. One with an interest rate of 172% per annum and another at 89%!

•Another $4 million in trade payments due, most older than 60 days

•All GWR shares have been taken by creditors

•KR salary $443k

•CM salary $411k

•Loss for the year $15 million

•Book Value -$7 million

•Auditors cast significant doubt about the company’s ability to operate as a going concern

•Alliance funding is stated as conditional.