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clock Created with Sketch. 24/07/14
10:50
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Originally posted by pokemon
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It is interesting to note in the quarterly report that they attribute an income during the reporting period of $352,000 from Joint Venture monies. Which has been conveniently consumed by administration fees of $255,000 (for a company that has actually done nothing, or cant even be bothered provided the regular updates regarding suspension from ASX). With virtually the remainder going to repayment of director loan with an additional $39,000 in director fees.
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The joint venture was entered into years ago and from memory they must be pretty close to paying out the portion of money required.
