re: Ann: Notice of Annual General Meeting/Pro... Hi asf,
Fair comment that some of the things I said in my posts were inflamatory, however in context, my main intent was to get A1 shareholders to read what is in announcements and follow up when matters contained in such announcements subsequently go astray.
One of the strategic thoughts that might come out of such reading is that the subscription agreement with Stone has the potential to raise $17,861,307, and yet as of 30 June 2011, A1 had $232,000 in cash with a whopping $18,904,197 in current liabilities.
The cashed up going forward figure for A1 will thus equate to whatever profit is made in the September quarter less $810,000 residual current liabilties (new equity plus cash, being less than current liabilities).
Have no idea what this figure will be until such time as the September quarterly is released, however a judgement call will have to be made on whether more funding will be needed for whatever plans new management will be coming up with.
As you alluded, my views on Stone are clouded by the CRE experience with them, and in particular the reported public tap on the shoulder actions of the Stone legal representative at the CRE shareholders convertible note meeting, when he insisted during the meeting that the FML CFO (present in the body of the meeting) meet him outside for discussions - viewed by many FML and CRE shareholders
as a public intimidatory tactic by Stone.
No doubt, once Stone is out of CRE I will probably have a total interest failure in what else they are doing - in the meantime will keep looking for pebbles to throw.
cheers, kentwang
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