No, their CASH position is 691k less 120k exp for Oct, so 570k. The debt is $500k. You can't really regard any of the WCU as cash, as it is very thinly traded and to realise 12c/share for 10m shares would mean dribbling them out over a period of time - not liquid.
You cannot say that they will receive the $1.5m in January - yet. It is subject to some sort of regulatory approval. I'm sure the company will tell us as soon as that approval has been obtained. It would be nice if they had told us what approval was required, and from whom, but that is not the GDN way.
GDN Price at posting:
6.4¢ Sentiment: None Disclosure: Not Held
