Lets see how the Faithers spin this $11 mil loss. They tried to convince us the recent CR is for "expansion" when in fact it's just to keep the lights on.
$5 mil alone just goes to staff and directors expenses. Lifestyle company through and through. GOAT received a $120,000 cash bonus as well, what a complete waste. A Bonus for telling porkies and wasting shareholders money. All up he pocketed $473,636 in shares and cash. No way his performance is worth that.
Accumulated losses = $137,406,719 and only just cracked $1mil per qtr............ enough said.
What do the auditors say?
"Material Uncertainty Related to Going Concern We draw attention to Note 2 (a)(v) in the financial report, which indicates that a material uncertainty exists that may cast significant doubt on the Group’s ability to continue as a going concern. Our opinion is not modified in respect of this matter"
SPX Price at posting:
0.8¢ Sentiment: Hold Disclosure: Held
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