Have we had any news with regards to the creditors meeting?
It strikes me that this coy puts out reports to the public via the ASX that specifically state they are sustainable and here we have a subsidiary which is now liquidated - not in voluntary administration.
This will definitely have an impact on the GCN share price and potentially it's own destiny.
How much revenue would the company have made this quarter? Then again, cost savings would be enormous now with no staff.
I'm sure the liquidator will put in forensic accountants and determine the real state of play. How did it get to this level with so many years of experience on the board?
Since the company ceased all projects in Australia the only 'assets' that are of any value are the MOU's establishing business in China. If only they could show us the value of these projects in China and not just some bullish media release.
GCN Price at posting:
0.5¢ Sentiment: None Disclosure: Not Held
