I AM being NEGATIVE and I also own these shares.Two things which...

I AM being NEGATIVE and I also own these shares.

Two things which I found amusing was a loan to a 'related person' payable at 10%. (Not bad if you can get it!)

And salaries, director fees and other related costs were $754,689 for 6 board members and ??? I could not find how many employees they have... Do they have any?

If not, then that equates to around $125 k, plus don't forget the kick-backs, such as the 10% for loaning money, that I can almost guarantee will get paid back before a dime is given to anybody else.

And what for? Burning cash?
I can do that just as well as anyone... PAY ME!

Gee, on the radio, you hear of floods, water shortages, etc. Could these guys not cash in on these events and team up with some of the agencies to deliver essential services to people in need (and get payment and exposure for the product)?

IMO, it is not long before this thing goes belly up, and what a shame this great idea is lost.


From the report:

The consolidated entity incurred a loss of $1,958,502 during the year ended 31 December 2011. The cash flow projections of the consolidated entity evidence that the consolidated entity will require positive cash flows from sales and/or additional capital or financing to continue operation. The Directors anticipate positive cash flow from sales to commence in the near future.

The consolidated entity’s ability to continue as a going concern is contingent upon generating positive cash flow from sales and/or successfully raising additional capital. If additional funds are not generated or raised, the going concern basis may not be appropriate, with the result that the consolidated entity may have to realise it assets and extinguish its liabilities, other than in the ordinary course of business and in amounts different from those stated in the financial report.

Oh well.

:-(