Let's talk assets and can one please explain the following.
Page 39 refers to the balance sheet of P1.
The major item is "Non-refundable deposits paid for investments". In referring to this statement
What is a non-refundable deposit and how is it being 'paid'?
Also, this item reflects an asset of which is $97,086,754.
The largest item by far here.
If one is to review this item (item 4) on page 48 it refers to these items as being "share sale agreements with the above companies". Another line states $96,786,684 was paid with the issuance of shares.
Got to love this final line
"the directors determined that the fair valuation of those shares was 30 cents a share".
I hope that a few are able to join the dots or line up the ducks.
GCN Price at posting:
1.3¢ Sentiment: None Disclosure: Not Held
