Ann: Half Yearly Report and Accounts, page-29

Billy has never been very bright, and with the onset of his winter years, even less so.

Hence any assistance would be welcome in helping me understand how Norwood is a "going concern."

The report says:

"Creditors totalling $99,273 have provided confirmation they will extend payment terms until such time as the Group has the ability to settle invoices;  The Group is in ongoing discussions with remaining creditors which will be settled upon funding through a debt or equity event. At the date of this report, the Group has not received any demands for payment from creditors." Really ? Are the creditors philanthropists ?

As at December 31, current liabilities stood at $958,594. The capital raisings since then will have made only a minor dent at best, particularly as Ostergaard and Tot are still costing around $500,000 p.a.

A "going concern" ?

And capitalised at $6 million ?