Hi,
The more I am digging into the info being released by TB and company, the more worried I am. Is TB taking us for a ride?
As per last Quarterly
Cash in Hand = $31.4 Million
But this does not give us the true picture. The true picture is revealed in form 10-Q as lodged with US.
Cash in Hand = $31.4 M
Current Receivales = $ 2.58 M
Current Payables = - $9.65 M
Real Cash position (31/3/12) = $23.7 M
This quarter expenses must be around $6 to $7 million at least if not more
So current cash position = Approx $16 to $17 Million
And we have a $14.2 M lease committment with Rig starting from 1 August 2012 for 18 months.
All the issues/problems are costing us a bundle and these are hidden under payables to placate shareholders.
Wake up guys before TB taps you on the shoulder for SPP or more dilution.
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