Ann: Half Year Accounts , page-2

Creditors balance of $10,571,104 @ 31/12/10

oh boy, that is shocking.

So, that would clearly explain the small cashflow positive Dec Qtr 5B. They just racked up the bills on the credit card!!! What is the debt ceiling I wonder? What security would/could Watpac have over this debt? Surely something - the company's only valued at 10mill!!!

So, what would the creditor figure be now i wonder? over the ensuing months we have had big delays, continuation of sub economic ore being processed, equipment faults, etc. It must be much higher again.

Hands up if you think A1 is a going concern? anyone?

I feel for those holding on. I hope they can somehow put a rabbit out of the hat, and it had better be gold plated.

good luck
Split