I think the board have a lot of explaining to do.
$4m for working capital!!! They need to explain how many of their senior staff are flying around the world in business class, when there are so many employees based in the US and Europe. Directors salaries and bonuses are in the $4m employee costs. Bonuses which should be earned when the company is heading towards profitability. At the moment, they are being paid too much for losing (our) money
Cash at end of June was $24m. now it's $16m. They'll be putting their hand out to us again in another 3 to 6 months to keep them in the manner to which they've become accustomed
Ann: Appendix 4C - quarterly, page-72
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