APG austpac resources nl

Few comments re Quarterly Report1 Covid and social distancing -...

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    Few comments re Quarterly Report
    1 Covid and social distancing - with staff costs at $29k, there cannot be much staff apart from the company secretary (think $85k pa) and with no activity, he may as well stay at home, but at least he could divert the company phone
    2 Management changes - Gaston has departed, appears there were no other staff in the office, may as well close the Pitt St office and save rent. What cost reduction was achieved apart from Gaston( down from ~$200k to $85K for new secretary)
    3 ZIRP, now a year since the Proof of Concept and no action, no staff, maybe a consultant if he is still available and willing to continue
    4 I have no idea how Austpac gets $405k as a tax refund, cannot even find where tax is paid. At least this enables the directors fess and consultancy payments
    5 Cash flows, maybe the CEO could clarify the ZIRP and NIRP and be consistant with wording, suppose the $10k is for the Newcastle rent
    Other the the above, with no staff to manage, no operations, the CEO has not much to say
 
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