Who would pay for this audit? How long would BLR be able to survive while this audit is underway? What is this audit designed to extract ? Why would an audit be any different that the legal ASX submissions that happens every quarter? Is not the annual financial statements signed off by independent auditors the audit you seek?
I looked at the cash flow statement released a week ago. It clearly outlines a dire situation. Is that not enough information for the market to understand this company is one step away from Receivership? It is there in glaring lights for all to see.
Audits do not come up ' hold' or 'sell', they give a financial condition based on a snap shot of the company on a particular date. So why would your audit tell a better story than the cash flow statement from one week ago? Actually, I suggest any audit you request comes up worse than the week old cash flow statement? Why? Because the monthly bills are racking up and there is diminishing cash in the bank account.
Cait
BLR Price at posting:
0.3¢ Sentiment: Sell Disclosure: Not Held
