Did anyone take note of the Query And Response to the asx i had...

Did anyone take note of the Query And Response to the asx i had to laugh ref the reply.


ASX
Recoverability of Receivables
During the financial year ended 30 June 2011, the company advanced, by way of
unsecured loans, $1,525,500 to various entities in circumstances where these advances
were repayable by 30 June 2011. These advances remain unrecovered at 30 September
2011. These advances have not been recovered and are unsecured and may not therefore
be recovered. In these circumstances we have not been able to obtain sufficient
appropriate audit evidence to satisfy ourselves that these advances will be recovered. The
recovery of these advances is material as to whether the company is a going concern.


REPLY
The company has loan agreements with certain entities and is in constant contact with the parties
concerned. The directors are of the opinion and confident that the agreements will be honoured.

And what exactly does that reply mean if they were to be honoured why were they not paid back by the due date
Will the ASX accept that as a reply i know i wouldn't this guy should have been a politician

These questions of the ASX have arisen from the Mentioned Annual Report.
Would appear to me that the books they keep are non existent, What a terrible state this new guy has been left with no wonder the other guy bailed.
To me it was all to easy for Hamilton to resign and bail taking with him his $1000.000 fee over the three Co
Hes the one they should be hounding.
One thing for sure we had better damn well hope the ASX see this Co as a going concern or were all up the creek.
Many thanks MR Tony F*&^%$G Hamilton