I totally agree with you T2BS. However, on the other hand, thanks to the $150k final payment for the extraordinarily dubious disposal of the main (ONLY!!) business to the "yet to be investigated" offshoot of the former TKF employees, they actually made a $9k profit - their best quarter ever!!(?). It says something about the management of a company that when no-one is actually there doing anything at all, they manage to do better than when the full complement were working there as a going concern! I wonder what the ASX will say. $141k costs for absolutely ZERO revenue would seem to meet the "trading whilst insolvent" description. ZERO cash at the beginning of the quarter, and no business to operate why did they trade, running up that level of costs? Looking at the paltry amount left in the bank ($9k), you could be forgiven for thinking that they only kept the doors (ajar?) open in order toreceive the $150k payment and make sure it was properly funnelled spent the right way. It seems that the administrators have done very nicely, as usual. $14k staff costs must be just the cleaning ladies, unless thay have started paying the management what they are really worth!! Lol. I wonder how much longer they are going to be allowed to do this? There must still be some interest payments due next quarter (interest on what?) so, how are they going to cover that?
TKF Price at posting:
0.1¢ Sentiment: None Disclosure: Not Held
