Ahh my fault, i failed to notice the correction. Weird how they...

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Bezzzzzo

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26/02/20

21:50

Post #: 43174578
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Originally posted by jap356: ↑

Yeah interesting observation.
They must have ramped up the # of staff or increased the amount they are paying themselves in that first 4C and realised they are seriously kidding themselves justifying those costs.
Actual staffing costs
Quarter ended
31 Dec 2018
$375 000
31 March 2019 *strategic review
$463 000
30 June 2019*restructure and cost cutting
$255 000
30 Sep 2019
$285 000
31 Dec 2019
$300 000
Estimated Outflow staffing costs recent 4C
31 March 2020
$456 469
APPENDIX 4C - CLARIFICATION
31 March 2020
$211 000

The reduction of 31% in total administrative, staff and corporate costs mentioned in the recent business update
2018
staff 375 000 Admin & corporate $265 000 = 640 000
2019
staff 300 000 Admin & corporate $179 000 = 479 000
Costs down by 161 000

With the revised 4C they will be down on costs - if it goes by the first 4C then yes costs are back to being way up.

I am too far under to bail on this one - but I was comfortable at being at a loss when it couldnt fall any further, now it seems there is no bottom for this. As long as the sell side doesnt start to mount down bellow 0.10 it may travel back up above consolidation levels. Yesterday afternoon was a nice surprise tick up though, so maybe there is some interest.

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Ahh my fault, i failed to notice the correction. Weird how they got those numbers so wrong.

393k outflow isn't bad considering they said invoices were down 24% due to invoice timing and restructuring, so it's possible they might have better quarter and be up over 300k in receipts.

Will be interesting to see how it plays out

OPL Price at posting: 8.6¢ Sentiment: None Disclosure: Held
1 Upvote

0 Great analysis

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