Yes, kiril- interesting times. Interesting choice of new CEO, too. Details here if you're an AFR member:
http://tools.afr.com/viewer.aspx?ATL://5d95b746-c002-11e1-b3fa-8eb4abc7ed1f§ion=tools
From an article in the AFR June, 2011:
http://tools.afr.com/viewer.aspx?ATL://18d711fc-a129-11e0-a188-f50a91381b5a§ion=tools
It discussed FFF's finances (this when the SP was 5c): reliant on Anthony Wales' loans; $38.3m drawn in the first half of last year; net assets of $32m; NTA deficiency of $57.3m; cash inflows for the period of just over $4m.
That was last year- I am sure things are much better now! :D The interesting thing about the article is that Champ Ventures had been thinking of taking a 19.9% stake and raising capital with Southern Cross to pay down debt if they took the stake.
Good luck if you buy in. It's a tough one.
Yes, kiril- interesting times. Interesting choice of new CEO,...
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