I just don't understand why they need to have such high debt levels.. by way of their constitution they are able to pay out 100% of their debt as dividends...
but they aren't generating any cash, and going further into debt.
Profit for the Half was $4m
Cash outflow for the half was $13m
Increase in debt was $15m
Payment of Dividends to shareholders $2.5m
8.5% of the Profit is paid to directors on a monthly basis... while cash flow is still negative.
I can't see this ending well... Can anyone explain how this company won't end up bankrupt?
Am I missing the obvious?
Ann: Full Year Guidance , page-10
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$9.86 |
Change
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Mkt cap ! $1.778B | |||
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