Hi SPLITPIN,
Yes, I still think ARL are broke.
The evidence is in there Annual Finance Report and quote:-
"Notwithstanding the company's recorded LOSS for the period of $20,020,754 and working capital deficiency of $1,304,122, the financial report has been prepared on a going concern basis as the directors believe that with the future proceeds from asset security realisations and continued support of creditors, the company will be able to pay its debts as and when they fall due and payable."
As it stands now they are broke because according to my maths the debt is over $21 Million.
When are the debts due and payable?
If this sort of money was owing to a bank next month, then it would immmediately wind up the fund, with a fire sale of the assets so they can get there money back.
OCV
octaviar limited
