Last time I checked there are only 4 quarters in 1 year, and not 12.
This would indicate they have well over 2 years worth of 'cash' on hand (without allowing for any revenue), and not "less than a year's worth" as you suggest.
The bigger question is what is the approximate $60m invested in.
It's not in a bank account or a term deposit.
This is confirmed by the absence of this amount in the quarterly 4C report, as well as the reference to the Financial Statements (as effectively declared by the company in today's announcement).
The other thing that remains as a major concern here is corporate governance.
I am advised it is a breach of the Corporations Act to not have at least 2 Austrlian based Board Members.
I believe they only have 1, and that that has been the case since 3 Directors all resigned effective from April 26 (fast approaching 1 month).
GSW Price at posting:
17.5¢ Sentiment: None Disclosure: Not Held
