1. Has anyone looked at the assets and liabilities statement and...

1. Has anyone looked at the assets and liabilities statement and realised that trade receivables are over $220K less than trade payables?

2. Is anyone at all concerned that assets are 0.17 cps ? Not $0.17 or even 1.7c, just in case anyone is decimally challenged.

3. Is anyone puzzled that they settled $50K owing to a trade creditor by issuing the creditor with shares in lieu ?

3. Note 1 to the accounts is confused and confusing.

For example: "While the Group has cash on hand of $2,141,687 at 31 December 2016, the Group’s future cash flow forecast for the period ended 31 December 2016 reflects that the Group will require additional working capital through equity over that period in order to meet the Group’s stated strategic objectives."

What does "that period" mean ? Do they mean 31 December 2017 ??? Is it a typo ?? It can't be a typo, because a respected company like Norwood wouldn't make such a basic error. Therefore at December 31 2016 they are forecasting cash flows for the period ending December 2016. Brilliant.

4. However, we are reassured: "The Directors are satisfied they will be able to raise additional working capital as required and thus it is appropriate to prepare the financial statements on a going concern basis." No need to worry, then: the "sophisticated investors" are queuing up to bail them out and allow management to live in the manner to which they are accustomed.