telemachusCash from previous qtr was $33K.8 Feb placement for...

telemachus

Cash from previous qtr was $33K.
8 Feb placement for working capital was $144K. Also $198K was raised to pay for services (not sure what services. DOn't think there was any activities being generated by EDM other than the Zimbabwe deal)

It has 5m SPS escrowed shares as an interest payment. It's worth $140K at today's SP of 2.8cps.

The admin costs of EDM was estimated to be $130K this quarter, which is impossibly high considering there is
is no staff, only non executive directors. But it is covered by the placement.

So with $130k admin costs, the non-executives (I assume it means they don't have to work) must be living a high life administering a holding company with no active projects on a day to day basis. So there may not be tea and bikkies, but they can certainly serve champagne and caviar everyday.

cheers.


DYOR