They pay Cicero in Subiaco $10,000 per month for administration.
Also, have office premises that Sean Smith occupies in Brisbane. Another $5,000 per month estimate.
$180,000 a year in administration to run a business that has an income of $8k per month.
Then you add in Director’s fees/salaries/consultants
Smith $284,700
Walker $120.000
Wild $96,000
Total $500,700
A spend of $680,700 to run a business that currently generates $8k per month.
$480K cash left from last CR.
The current spend rate will need another CR at the end of this quarter.
Shareholder dilution continues all over again
Ann: Quarterly Activities Report & Appendix 4C - Sept 2021, page-4
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