Share issue costs at 14.4% is amazingly high, and $15m cost for just over $100m.
Comprehensive loss $51m
No working capital...current assets minus current liabilities.
Brewer and Landau paid $1.9m each, plus consultaancy etc etc.
Board costs $6.5m plus consultancies(previous year $2.2m)
Consultancy >$10m.
Flegg's wages hidden in consultancy.
Interest on borrowings 10-12%....high suggesting risk of borrowing difficulty costs.
Total carry forward losses of $111m, of which direcrtor costs are the major percentage of. Directors fees without consultancy and other types of $$ transfer executed amounts to $31m.
Looks like this coy will continue to have dollars recirculated to the board, leaving very little for those that pay, namely the shareholders.
Can not see much hope for shareholders in this, especially understanding the composition of the board, and their objectives. A good kennel club share.
CCC Price at posting:
20.0¢ Sentiment: Sell Disclosure: Not Held
