Ann: Preliminary Final Report , page-6

Total Liabilities $4,723,175. WOW!

Trade and other payables $3,120,108 up from $2,428,469. $700,000 extra! Looks like a few bills to pay. Just $190,804 in trade and other receivables.

GCN are still carrying $4,336,471 in Goodwill that is currently being disputed by ASIC.

It's quite amazing that a 13 year old business that's spent $44m in shareholders money can manage just $80,000 in revenue for the year (once research and development cash is excluded) and have a loss of $3,252,675.

$3.2m spent to generate $80k in revenue.

They don't get much worse than this. Be careful!