yes you are correct at 42.5% if interest charges each month aren't being paid,
my 36% assumed another one of the pay day loans was being used to pay the monthly interest payments…….(Using a assumption) its billed and due monthly
as there are no dates of when these loans were taken out or the current balances its impossible to really know the situation
They certainly didn't meet their interest liabilities for that amount of money outstanding on all those loans last QTR.
why they are not in administration is very interesting. wonder if the secured creditrs let continued breaches for non payment occur without proper action now having trouble enforcing their security?
I wonder if any amounts are outstanding to the government for royalties? ATO, PAYE, or employees for Superannuation?
This company and all those associated past and present should imo be examined publicly by a government funded liquidator
,,,,its just 92M asset sitting on the OZ market which is a total crock
CDU Price at posting:
23.5¢ Sentiment: Sell Disclosure: Not Held
