QUOTE Mr Williams: “I am pleased that with these financial...

QUOTE Mr Williams: “I am pleased that with these financial results…….Chemeq has been transformed in the last 12 months and that transformation continues.”
I hope shareholders are as pleased as Mr Williams with the financial results.
If the financial results/transformation continue as they had been, very soon CMQ shareholders will be as dinkum happy as EPIC Energy shareholders.

Let us examine some of the figures:
Sales of Goods: $1,785,000
Production Costs: $13,681,000
Receipts: $273,000

For every $1 of sales, it cost $7.664 production cost which does not not include other indirect costs such as Sales/Marketing; Plant & Equipment. Is this the new way for business success?

On top of sales below production costs, the company collected sale receipts of 15cents in every $1 of sale. Just like what some some lucky creditors get paid in a $1 of liquidated companies?

Shareholders got to ask Mr Williams to explain why the different sets of accounts not reconcilable with each other?

Sales Receipt for the year ending 30 Jun06 May & Jun Appendix 4C: $208,000 ($150,000 + $58,000)
Sales Receipt for the year ending 30 Jun06 in 4th Quarter Report: $289,000
Preliminary Financial A/C (Receipts from Customer): $273,000.

Cheers