My reading of the financials says they're cactus:
Cash & receivables 2.1mil
Less:Current payables 6.3mil
Less:Current borrowings 3.7mil
Means they're nearly $8mil underwater at 31Dec plus another 3.8mil in Long Term borrowings.
And they would have been cashflow negative for the last two and a half months,so the position today is even worse - why would you feed this dog more moola.
The financial statement are deficient in that they don't even mention they have a working capital deficiency and don't state how they intend to address that issue.
If they were being audited by one of the big four audit firms they wouldn't be able to get away with this lack of disclosure.
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