You're a clown. This is a standard line you'll find in EVERY speculative company's annual report. It's an auditor's disclaimer. If you don't like the statement don't invest in speculation, pretty simple.
Love you're attempt at trying to misrepresent the payback date of the loan and then claiming you made a mistake. Also you forgot to mention, purposely I'd suggest, that the last quarter of the yearly report resulted in just a US$497K loss. The reason for the bad yearly result has been discussed ad nauseam, the company had to wind down their unprofitable business - undoubtedly hindered by contractual arrangements - which resulted in a massive short-term hit on revenues. We all knew this phase was necessary, it's not a surprise. Nothing you have shown me so far indicates that the company is in financial distress and close to insolvency. It's just not factually correct. As I previously stated I'm expecting a similar loss for the September quarter and potential profitability (or at least break even) by end of December quarter. But even if it takes a little bit longer there's enough cash for 4 or 5 more similar negative quarters before the bank balance becomes an issue.
-ie are they already in negative equity territory?
I'm still not getting the significance of this statement. Do explain.
You'll never successfully invest in speculative stocks by just looking in the rear view mirror. A proper judgement of a business's likely success requires the past, the present and the future to be considered. You've managed one of the 3. Once you consider the other 2 you may be closer to typing truths. At the moment it's just scare-mongering for what purpose I can't ascertain right now.
AJX Price at posting:
13.0¢ Sentiment: None Disclosure: Held
