Approx $1.2 in current liabilities (including convertible notes) by my calculation that have not yet been paid. This means most of the rebate money (if ever it’s received) will go straight back out the door.
Add to that any new consulting fees owed to Gino and Russell’s companies (who knows how much is now owing, no way of knowing) and MTC is left with sweet FA working capital.
How the ASX and ASIC have allowed the company to keep trading is beyond me? Blind Freddy can see the writing is on the wall and that these directors have milked this company for all it’s worth and left SH’s with little to no value.
Absolutely appalling management and governance by Gino and Russell in my personal opinion.
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