Ann: Half Yearly Report 31 December 2017, page-2

A very sad balance sheet.

Let's say we ignore the elephant figure of $26M for Intangibles, because let's be honest, do we really think we are going to see that returned (its a spec!).

That leaves effective asset value about $340,000 in real assets - cash, receivables and plant(is book value realizable?).

Against this we have employee benefit liability of $677,000.

So if we sell up today we can only afford to pay the people running the show about half of what they are owed. Any wonder the auditors would slap on a going concern warning.

And any sort of results are still 6 months away. I find it hard to keep believing.