In addition I note:SUMMARY- Intangibles write down: “major...

In addition I note:

SUMMARY- Intangibles write down: “major Shareholder on market share sales”. Clearly a strong company position on the influence Mr Davidson has had on the demise of CCE. 

Next off in the fire sale will be GIMG however still not complete and I note CCE have flagged yet again more cost over runs on this project. However off loading a defence site asset will have a lot of red tape and I expect be time intensive.

I imagine Lendlease have now taken control of Kalbarri and Summerhill Waste Solar Farm. This is a major liability to their business. Got into bed with the wrong company. 

CONCLUSION - Emphasis of matter: Liabilities at 31st Dec = $1,082,723. Based on cash at bank and outgoings and given we are now in March, regardless of Northam sale and factoring in HFM Investments debt, in my opinion it is safe to deduct that CCE are now trading insolvent. If not, very, very close. 

So, anyone still think EMC was a good idea?