gc: You're referring to the net tangible asset figures for 31...

gc: You're referring to the net tangible asset figures for
31 Dec 2010 = $801,000
and
31 Dec 2011= $5,019,000

The increase is substantially due to two credit raisings and the conversion of BTC's convertible notes during 2011.

These accounts are for the half year to 31 dec and therefore don't account fully for the annual change in net tangible assets.

I'm quite comfortable with these half year accounts. They are being careful with their expenditure. The burn of $1.4m
reads well for a 6mth period. If their forecast revenues for 2HFY materialize they should have adequate cash reserves for most of 2012.
Cheers