Wow - $354k a year to conduct DD on a project you already...

Wow - $354k a year to conduct DD on a project you already control through another entity - not bad!

Of the $650k of shareholders money the company "invested" in FY17, $523K was employee and accountancy costs.
Of the $120k left, they even managed to incur a $17k bad debt!
Now I doubt that this thing costs $90k in accountancy and audit costs (cant be hard to audit a payroll of 4). I sense some director related party accountancy advice is required on how best to spend the remaining $120k. They wisely concluded that computers and communication (was in the top 3) would give the best returns to shareholders - need the latest iPhone to check bank accounts I guess.

What a joke.... Was thinking undervalued at less that 1c but now not sure....