Well as I had suspected. At June 30 the company was borderline solvent.
$129m current assets $126m current liabilities.
If we strip out some of those questionable "prepayments" in the current asset position, it was a zombie at June 30.
During July before the capital raising it was on the wrong side of the cemetery.
What are the headlines the promoters cry - $73 million cash at June 30! Don't mention the $110m trade creditors at June 30.
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- Ann: 2015 Annual Financial Report and Appendix 4E
Ann: 2015 Annual Financial Report and Appendix 4E, page-2
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