ouch is right! Not being an accountant am I correct in reading that they had a loss for the first half (>31/12/07) of $3.5m, and that cah on hand was $76k at end of March, that cash outflow to 31/12 was $2.7m compared to $27K for the same period last year?
If the net assets = $3,359,087 at 31/12 and there are 271,505,305 shares on issue does that value each share at $0.012c (1.2c)? When the auditor says" future capital raisings will be required in order to meet its (RMA) expenditure committments and to continue in operations" is that normal?
As phantom8 poited out $13k income for the quarter is not what I'd call huge. I am also curious in the section relating to events post 31/12, it makes no reference to the legal action with MSO that newtrader keeps telling us is going to bring in lots of $'s - they are not calling it one way or the other.
One last question, what is the $4m equity drawdown facility from Cornell Capital - is that a loan to keep the doors open, given their basically no cash, no income position? How is it secured & how are they to meet payments and if they can't, isn't $4m more than the company is currently worth?
RMA Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
