Just a litany of disaster piled upon disaster... dont know how someone could bring themselves to sign this report.
Where do we start ..
Cash FlowsOperating Cash Flow for the six months period was a cash outflow of $3,499,000 (6 months to 30 June 2022: outflow of$4,507,000), representing $1,004,000 lower cash outflow from the previous period.Cash payments from customers for the six month period were $1,694,000 (6 months to 30 June 2022: $3,303,000). Cashpayments to suppliers, consultants and employees for the six month period was $5,247,000 (6 months to 30 June 2022:$8,099,000). The decrease in cash outflow relates primarily to lower employee payments and reduced manufacturing relatedactivity. As mentioned previously, the Group incurred significantly lowered legal and consulting expenses incurred as a resultof the fraud and mismanagement investigations. The Group continued to incur expenses in government lobbying and theCompany’s manufacturing/supply chain strategy within the period.Spending on new plant, equipment, and intangibles for the six months to 30 June 2023 totalled $374,000. This was mainlyfor the Chinese manufacturing facilities, R&D related activity and costs associated with patent applications.
So we just bleed cash fo no tangible business growth, add those imparement charges and then have a good read of the " Contingent Liabilities" the whole thing is a fu....g mess. AND with more to come...Forget about current assets V liabilities , there will be nothing left of this carcass by the time the authorities and adminstrators pick it clean. Its only 4 .pm where I am but now going for a stiff drink ..or 4
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Just a litany of disaster piled upon disaster... dont know how...
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RAIDEN RESOURCES LIMITED
Dusko Ljubojevic, MD
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