That's the first place I looked when I saw the announcement and I was flummoxed by the adjustment without any notification. That will need an explanation I think. I was happy they wouldn't need a placement too quickly with $2 mil in the bank but $400,000 just covers their admin.
I note in the more detailed half yearly statement they have roughly $400 cash and $1 mil in trade recievables but also about $1 mil in trade liabilities. May have been adjusted around those figure. I will have to talk with the company to find out what it all means but on the new half yearly figures they definalty need some cash soon rather than around June as I first calculated.
Seik
APG Price at posting:
3.5¢ Sentiment: None Disclosure: Held
