Sorry REDDO,apologise about the headliner on my last post,it was...

Sorry REDDO,apologise about the headliner on my last post,it was in reference to the consolidated financial statement,I am still puzzled about it and the more you look at it, you find other little tickly questions instead of answers


2010/11,$46 million is what was received,but is booked as intangible out of nearly $68 million.This was when gunns took over Great Southern scams.the point is how was it allowed before and not now,and where if you dont allow the 46m,how about the 68m balance

THEN THIS!!!!

QUOTE__:‘Operating cash flow is listed at $37 million. But this is very misleading.’
‘Hence operating cash is overstated by $29 million in 2010/11’ .... John Lawrence

That leaves precisely $8 million for the cash flow going into the first quarter of 2011 - 2012, which ended on 30th September - the same day as the 2010 - 2011 year-end audited report was issued.

Also on the same day, 100 workers were paid off from their various closed sawmills in Deloraine and Scottsdale etc. Then we have a $22 million contract to dig holes and shift a bit of earth on Gunns mill site.

On the 18th October, Gunns has to find a further $12 million to pay out its GNSPA (unfranked) interest according to its ASX release.

Then they also have some overdue supplier accounts to fix and because of this, there is no timber supply to Gunns, therefore no timber income.

A small gift from Lara eased the pressure somewhat, but I believe they need to wave the magic wand over the pile of notes to see if it will grow large enough to finance all this lot!

The first quarter reports, once released, should make some interesting reading - a great addition to anyone’s fiction library. END QUOTE___

from Taz times
------------------------------------------------------------

How the hell are you supposed to decipher over 100 pages financial statement that has the level of a year 8student presentation with NO index in it,or was that done because everyone generally jumps to the balance sheet first??!

cheers