re: Ann: June Quarterly Activities and Cashfl... It will be...

re: Ann: June Quarterly Activities and Cashfl... It will be interesting to see the Creditors & other Current Liabilities on the 30th June BS against the cash at bank from the SPP capitsl raising when it is released next quarter.

This will probably answer your question guys. The company has always traded this way to date (operating losses). As long as the net assets remain positive & it can raise capital & can demonstrate that it can pay its debts, it is not really trading while insolvent.

Half the SPP raising was burnt on development for the quarter... How much more cash burn is required for the rump-up before it becomes cash flow positive? Will they need another SPP issue in August/September? I would think so....

It looks like they had a good read of this forum as many of the topics iterated in recent weeks were "talked-up" in the report.

At least it was one of the more comprehensive reports this time around & the development ramp-up does look optimistic for later this year & next year if they can continue to service/fund the development & they hit their "marks".

Apart from not quite reaching their forecasted target, my main criticism is also the cash burn, where & how efficiently is it being spent!

HOW ABOUT NO MORE CHRISTMAS CARDS & NO MORE DOUBLE UPS WITH SPP CORRESPONDENCES FOR A START!

AND FIX YOUR WEBSITE UP. IT LOOKS LAZY & CHEAP WITH ITS GLOWING NEONS. SURELY YOU CAN FIT THAT INTO YOUR ADMIN BUDGET. ;)