You would think it would be, but I guess in the end it has to be looked into and seen if that is true. Is ACCC/ASIC going to really look into it? We are playing the ASX casino after all.
Problem is you see it time and time again before a CR that is known to happen shortly (rather than out of the blue) Is the Investor presentation ann really enough for a 23mill unit turn over today?I'm not really sure that EDE has taken the 3mill cash from TAS and this is why.
At the end of last quarter (Jan-Mar) there was 3.8M in the bank. 1.6-1.7mill was the losses for the month which had 400K of sales. So roughly 2mill is the running costs.
As at 28th June there is 2.3mill in the bank. 3.8-2.3 = 1.5mill outflow for the current quarter, has there been another 400-500K in sales well we are unsure. But if using the 2mill out flow for the quarter you would suggest it is once again around that figure.
If EDE had in fact taken the 3mill or 1mill or what ever amount it would show up in the bank balance being higher as at 28th June.
Ann: Investor Presentation, page-60
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