Funniest AR on the ASX - check the related party transactions for a real scream. Not to mention the admin vs exploration costs, directors fees, travel and accom expenses, etc.. LMFAO.
It looks like PRW are close to being insolvent based on current liabilities ($850k trade creditors) vs current assets. It appears that a large % of the "Held for trading financial assets" and "Available for sale financial assets" are cross-holdings in related companies, i.e. GXN, CDB (which failed to lodge its AR and is now suspended), SA Capital Funds, etc..
I nearly lost my breakfast the other month when my beloved Pierpont (AFR) wrote an article about and a "have-a-go" bloke called Andrew Mortimer that he met at Diggers n Dealers. ... My opinion of Pierpont as a judge of character dropped faster than Alan Jones' ratings.
PRW Price at posting:
0.7¢ Sentiment: Sell Disclosure: Not Held
