CTR Fundamentals, page-7

Thanks hynrg. Frankly, there are only a couple of numbers that concern me at the moment, which, you have included in your deductions and conclusions.
I don't propose to "discuss your numbers" at this time.
I look at the cash burn, (not saying that I agree with yours) just basic eyeball calculations. I see the amount of cash held at 30 September. I see today's date, 18 November 2014 (49 days post 30 September).
I see your 500 million "potential" shares available for placement, an increase in the then total I.C. of 26% if fully issued. I don't see S.606 of the Corporations Act.

And I read this from 29 October 2014.

"The Company has been in detailed discussions in recent weeks with potential funding partners regarding a financing facility to fund its upcoming funding commitments on its 60% interest in the Atzam and Tortugas Oil Projects in Guatemala, and other potential investment opportunities in the oil and gas arena. These negotiations are now well advanced and the Board expects that it will shortly be in a position to execute a new financing facility to fund its current obligations, including future repayments under its existing loan facility".

With respect, to start with, IMO, our "given" that $469,000 remains, is, with respect, a happy coincidence to support your conclusion.
Again, IMO, your final paragraph, iv, even if your numbers are spot on, simply does not fit in with what this company needs and what management say that they are proposing to do. IMO, they need MORE than $1,378,000 and IMO, they WANT more than that anyway (other investment opportunities and also want to fund future repayments under the existing loan!!).
They have been trying for "weeks" prior to 29 October to secure that funding. They have had "access" to 500 million shares for a placement since 2 October 2014.

Suggests to me that, given that they have been trying for weeks and had access to those shares and have still not, by 17 November, seemed to have succeeded, that they are having great difficulty in raising enough cash by using those shares to individuals to avoid S.606 of the Corporations Act. And, given the 20% Rule under S.606 of the Corporations Act, they cannot issue all of those shares to one entity.

I'm sticking to my guess that this "deal" that they are working on is not a temporary band aid and will wait until I see all of those details and not trying to do any analysing based upon uncertain numbers.