full year statutory accounts

Integrated Inv released the Full Year Statutory Accounts (44 Pages) to the Market at 4:45PM (26-09-2008).

The 'Review of Operations follows:

Net results for the year amounted to a loss of $331,760 attributable to the members compared to $206,403 for the same period last year.

As reported in prior years, the main operating costs of the company have consisted standard corporate maintenance costs such as accounting, audit and listing costs. In the current year, an additional non-recurring expenditure of $100,000 was incurred, of a non-operating nature which related to the full settlement of a previously noted contingent liability ($161,914 in the 2007 Accounts). There were associated legal fees of $12,686 incurred in the settlement of this matter.

Other significant overhead increases resulted from consulting fees of approximately $20,000 which could not be capitalised relating to geological surveys and reports on other mining prospects not associated with the Lionel Diggings mining lease.


I'll be interested to hear other's evaluation of the data.

Robert