I have a question for those more knowledgable about accounts than myself.
Item 2 in the Preliminary Final Report states that revenues from continuing operations are up 21.17% to $398,335 ($398,336 in Item 12, but who cares about the odd dollar?)
Yet if we look at Item 5 it is stated that receipts from customers were a mere $80,491 - so the bulk of so-called revenue comes from an R&D Tax Offset Rebate of $283,543. There is also an item of $174 for interest received.
These three items add up to $364,208 - a shortfall of $34,127 on the stated revenues from continuing operations of $398,335.
My question is this.
Where do these other revenues of $34,127 appear in the report?
On another matter, we read on page 8 that:
"Jermajesty Holdings is currently working with Sino Investment Services Pty Ltd on the listing of the company on a major stock exchange by end of 2013. Upon the successful listing of Jermajesty Holdings, GoConnect will be able to demonstrate the significant market value of its 20% stake in Jermajesty Holdings."
Third time lucky for Sino Investment Services (SIS), I trust. No value has accrued to GCN since SIS tried to get Priority One and First Mongolian listed.
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