Never a good sign when a Company gets it so wrong that they come to the attention of Trevor Sykes' Pierpont articles. Not only that, there is a very extensive number of column inches for such a little Company.
Wonder what all those people who put the money in think about some of his conclusions?
Tens of millions of dollars of cash.
Consolidated cash flow 2005-2009, total sales 7.5m, total operating negative 11.5m therefore cash expenses 18.5m, total investing cash flow 1.3m ....
Pierpont "which may explain why the magic box isn't working yet."
... and the Administrator's comment, in the last lines "the technology is not at a level where it is at a marketable stage. ...marketing of the product is imminent"
Pierpont "It was imminent in 2005."
David Ross, (Administrator) "Yes. It has been imminent for a while"
This Company is a case study. Blue Sky Mines NL never spent so much for so little real capex. I wonder what the revenue would have been if it wasn't for their (loss making) publishing operations.
Wonder where the regulatory authorities are in all of this?
AZU Price at posting:
9.5¢ Sentiment: None Disclosure: Not Held
