Ann: Appendix 4C - quarterly-SBB.AX, page-8

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powertool

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01/11/16

09:11

Post #: 20272142
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Originally posted by andrew a ↑

The $550k loan was a repayment to Mr Xu.(Refer below note 17 from the half year accounts). So I would suggest that it is now $110k owed reflecting he last quarter.

The more concerning issue is the substantial fall in cash receipts from customers ( last year Sep 15 qtr $17.8m). Note revenue has been tracking at approx 95% of receipts so the top line does not look good.

The business is clearly struggling despite millions spent on the brand , distribution network & buying key distributors & setting up the online business.

True to form no explanation or insights provided to shareholders.

17. Related party transaction During the period Mr Jiayin Xu (Director) advanced funds ($23,000) to the company to meet certain operating and administrative expenses in Australia. The total outstanding at 30 June 2016 is $550,000. The transactions between the related parties are on normal commercial terms and conditions, no more favourable than to those to other parties unless otherwise stated.

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Unfortunately little chance of a dividend any time soon.

SBB Price at posting: 1.8¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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Ann: Appendix 4C - quarterly-SBB.AX, page-8

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