OCV octaviar limited

arl going bust?

  1. 45 Posts.
    Received the Annual Financial Report for ARL to 30 June 2013.

    It quotes that "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."

    That is a Total LOSS of:- $21,324,876 (this is over 21 Million)

    I think it is not a going concern, and should be liquidated immediately. I cannot see any asset security realisations happening for years. and thus qualifies it as NOT a going concern.

    I did not sign up for ARL, and I believe that the unit value will become negative, and so I will have to pay money to ARL.
    How do I get rid of these ARL units?

    Please I think this is a desparate development and can someone fix this. Can ASIC do something, so that ARL will not send us all a Bill for moneys owing.

    Also does that mean WC's unit value will become negative as well?





 
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