Lets look at reality here. They got $85,000 left in the tin. The...

Lets look at reality here. They got $85,000 left in the tin.

The legal and accounting fees for the consolidation work will chew all of that up and possibly more.

They still managed to burn through $314,000 in Administrative expenses for QTR1 2015.

Now they saying the next QTR Admin expenses will be down to $50k - a reduction of $264,000 or 84% blahhahahaha.

A 5:1 rights issue post consolidation at $0.05/share will be lucky to get taken up IMO as what are you subscribing in to? A project in USA that`s no where near ready to produce anything really and a hope that the company will jag a potential deal or two??? (They all say that). oh and of course working capital (read lifestyle privileges)

IMO they left it way too long to start cutting Admin expenses (see my previous posts on this) and add in a high cost CEO/MD and other Directors all running the lifestyle good times ship. Credibility shot really.

Not downramping - just stating the facts here - DYOR on this one - high risk - but I cant see the reward unfortunately.