qtrlry report released

This was released late Friday...probably to avoid too much attention or scrutiny.

At June 30 there was about $800k cash remaining with a current burn rate of about $400k per qtr.

There seems no sign of real sales revenue to keep it going.

Without another desperate capital raising at below 8c or cash from Egypt this seems to indicate less than 6 months life.

Good to see the Directors have not been taking fees since Nov 2010 but salaries are still the major cash expense. I wonder how AAMC is funding any building of new equipment.

They state that they are making good veneer, but not much of it as only another 1000 sq m of the old order for Egypt was shipped.

Also state that fibre chips are under test and promising (as ever!).

It gives the impression that the company has scaled back to minimal operations to conserve dwindling cash and almost on life support.

Looks like a sad case of "walking dead" but I hope I'm wrong and they pull through.

What do others make of the June Qrtlry?