If these auditors had of accepted the PFG waiver, the net current asset position would have shown a $27m turn around in the last 12 months. Sure 1/2 of it was forgiveness from Eastfield, but that is because they recognized the poor form they showed pumping revenue prior to LIFX sale. The breach was due to lower revenues, but that was necessary to achieve EBITDA positive. No point in higher revenues at a -EBITDA
LIFX will 100% survive, the new SKU's will accelerate the company to NPAT... The plan to achieve +EBITDA is being achieved with 40+ margins. They will now sell through the inventory buildup and recieve the cash that was due from the Dec sales. No CR is planned. The company has stated that.
