another $2 mill in the can...40 mill options exercised.
I had a further look at the accounts today and found that only $36 mill was attributable to bank debt, the balance of $9 mill being lease finance. $36 mill will take 12-15 mths to pay back.
And another thing, for those who aren't aware, CUS utilise a bailment facility to make sure the ATM's are full of cash. This facility has a cost to it, being 0.65%-0.85% above the cash rate. As of today, that bailment cost came down 0.25%. Last year the bailment cost was about $6.6 mill pa.
Just to finish off, I noticed that Wildash and his CFO billed approx $5000 to the company for their time as consultants...nothing unusual in that except that the sum is very low in stark contrast to the Chairman billing $65,000 for his time. I suspect that his invoice was put in before Wildash took over....just another signal of how Wildash intends to run our company..lean and mean..
All in all good news...I am seriously looking forward to this company getting re rated in the next week or two... Its buy time....
CUS Price at posting:
$1.10 Sentiment: ST Buy Disclosure: Held
