SplitAgree,I know there is a lot doubt with respect to this...

Split

Agree,

I know there is a lot doubt with respect to this companies ability to follow the ASX listing rules. However, if ASX have asked and the company to disclose to it, the companies expected short term profit and they have stated $2m for this qtr... they are bound per ch3 and 8 of the ASX listing rules to report any material variances to the expected profit.... imediately.... not at the end of Jan when they usually release the qtrly.

If it comes up zero at the end of Jan, it does not matter if they have an excuse, they still at the time of being made aware of that reason required to amend the forecast at that time... not later...
even if they become aware of a reason today after yearend they are not allowed to wait until the usual end of Jan qtr statment.


so hopefully no announced excuses no change to the expected profit this qtr...

Just to clarify it seems from past profit forecast they were a bit cloudy re the forecast (would you agree) so there was no specific No. to be materially different to? ... this time they were reqired by ASX to be a bit more specific.

If i were a director i would want a bit of a buffer zone if ASX were requesting a profit No.

I assume the directors this qtr, more than any other qtr, would be a bit more concerned to pay close attention to the compay over this qtr to insist on regular feedback. It is ashame they have not let the shareholders know any of this information...
but they will be in a bit of trouble i would assume if it is materially different to the $2m reported to ASX.... which as i stated before will be $8m annualised with a market cap of around $20mil, + a plant less $6m debt.
if they produce a $2m profit for the qtr i will personally top up if the share price does not go north.... as that profit should only get larger then on with the start up issues worked out.

There is a lot riding on this qtr's result and information disclosed.