Ann: Annual Report to shareholders, page-2

Interesting takes from the report


The Consolidated Entity employed 6 employees at 31 December 2015 (2014: 3).



The Company will also engage in further fundraising, allowing for recruitment of further world
class team members, and capital investment as required.



Also:

Mr van der Made will receives a base salary of US$200,000
In addition to the Base Salary, Mr van der Made will be entitled to a cash bonus on such terms and conditions as determined from time to time by the Board (Annual Bonus). The Annual Bonus may be an amount up to fifty percent (50%) of the base salary in effect at the end of
any fiscal year


During the term of his employment Mr Mitro received a base salary of US$200,000 effective 1 October 2015
Mr Mitro’s resigned as Executive Director on 3 October 2015 due to health reasons. Accrued annual leave payable to Mr Mitro was paid in October 2015 and his termination payment based on his base salary plus benefits is being paid on a monthly basis until 30 September 2016.



Mr Rinaldi received a fixed remuneration of A$150,000 (excluding superannuation) per annum effective from 1 May 2014.


During the term of his employment Mr Mankar will receive a base salary of US$200,000 effective 1 October 2015


Remaining cash in kitty:
Cash and cash equivalents at the end of the period 1,393,869




Looking at the above information one can deduce that there may be a need for a CR soon...



DYOR