Not audited by who needs that to reaffirm1. Negative Shareholder...

Not audited by who needs that to reaffirm

1. Negative Shareholder Equity

2. Insolvent .... even after backing out the credit facility repayment. Just take Current Asset - Current Liabilities (ex credit facility) and you get a Working Capital deficiency of $7,557,552

Who would lend any amount of money?  The first $24M goes to MOB, The next $7.5M goes to paying off creditors (Accounts Payable). Then you need some working capital to drill etc ... at least $4.5M I would think ... If you had $36M would you lend it to SSN. I wouldn't - how would they pay interest ... in worthless SSNYY ('cos SSN.AX isn't trading) stock?