going going gone concern

The new auditor must have been a tad disappointing to Trader Vic with the rider of the uncertainty of Vics cash box as a going concern .. this half the liabilities exceeding current assets by $ 6.515. The cash burn even without the kiln turned on did $ 6.043 M this half with Trader Vics stellar sales of the hard stuff at a lousy $120 grand .. that doesnt even cover the beer and gas for the fly ins at SR or Vics la dolce vita travels. Vics grand total burn is now $131 million on his buy of the century SR plant of $ 7 million back in the good ol days . The valuation has now been shot through without hardly turning on the tropical white elephant.Trader Vics intangibles are now valued at nearly $20 M .. pray tell is that the Descrete stuff or Vics financial chicanery - oops know how .
Impairments are par for the course with good Ol Vic with the SR set up still in start up phase with no established or contracted level of sales .Rather contradictory to his statement of the signing of key supply and manufacturing agreements . Pray read the fine print. $11 million bucks of sales have been signed ... all conditional what... An Indo LC is a standing joke .. more like Lost Change .
Lost in the smoke was Trader Vics little loss on the sale of the West Oz Swan clay deal .. thats the one where the Commonwealth was scammed for th R + D funds.And this to old mates in Minatek ..twice bitten once shy ..always good for another swipe .
Note the deafening silence about the details with Descrete .What you dont know wont hurt you . The devils in the detail - hey Vic.
Maybe the only way to put this whole pantomine out of its misery is to not renew Alexanders employment contract whenits up for renewal next . But thats why Dougie is at the helm ... running Governance .