Hi , ck, Good to hear from you , I have been holding this one...

Hi , ck, Good to hear from you , I have been holding this one back , I would kike you to refer back to the Feb financial report , and something that I think may have been missed in the wash ; There were 14 ships sold at $28 ml and this amount was nullified by an unscheduled debt payment of $25 ml. Cash was down from $124.5 ml to $87.1 ml a spend of $37.4 ml ( now here is the good bit ) CAPEX was $ 82.3 ml , yet cash on hand was $ 87 ml . therefore an amount of $45 ml had to come out of earnings . Why was it not posted as profit along with the $7 ml ? Because it was better to pre pay into capex than to pay tax , The tax bill would have been $ 17 ml. Now we all know that this is the last of the capex spend at the end of this FY . And capex attracts tax concessions. So company revenue is down but so are costs , capex is all but over and the INPEX contracts begin after July . The business has grown in the Middle East where record amounts of oil are being produced . Ok so its not all bells and whistles , but trying to compare MRM with some of the other dogs like Programmed Maintenance or Skilled is fallacious , and misleading . They were never in the same league as MRM . Don't give into the negative side , no one ever got rich with a negative attitude ........ Cheers ck..........