I know the world isn't this simple, but, Multiplex have $4.22Bn...

I know the world isn't this simple, but, Multiplex have $4.22Bn in net assets, and are paying around $25M per year in Multiplex Sites payments.

I understand SITES aren't the most senior of debt, but, it is still comforting that they are but a drop in the ocean.

$4,223,200,000
$25,000,000

Sure, $216M loss last year, which isn't nice... but, even if that is maintained for 19 half years (9.5yrs), net assets would still be positive.

Also, $216M is the number of Netloss on revaluation of investment property+share of net loss on investments accounted for using the equity method. Without these two negative items, Mutliplex would have not had a loss (well, $400,000 ish loss).

The Multiplex SITES Trust has all $450M sitting there ready to go.

The major problem is current liabilities are greater than current assets, as per last halfyearly financial report...

Does anyone know how Multiplex have got around this? Got another loan? Does anyone see danger here, with cash reducing, making a net loss, and having current liabilties > Current assets + facilities to borrow?

Can Multiplex grab it out of, say, Brookefield Multiplex Property Trust? Does the world not work that way?