In my last post I stated I did not want to read about irc in the...

In my last post I stated I did not want to read about irc in the qtly , so here it is ...in the qtly.

The announcement (although positive) has been held back to buy time for them to find funding..again IMO .The payment must have been banked sometime ago to pay the subbies already.Now would that receipt of money have been market sensitiveinfo , certainly to us .

What I find disturbing is that inl stated back in September a substantial payment was due from a new client .
The 5m they got from Nippon was substantial .1.4m is not especially when you forget to mention to your shareholders that the start up costs will swallow the lot and some and the need for a cap raising on top.

As newland said $288k will be gone in weeks with no funding secured ,so how can they even think about a 3 year startup in Iran or even the next 12 months for that matter ....unless a finance deal or backer is imminant otherwise forcasting activity that far ahead is just reckless & misleading to all surely?.

But who and why would they want to jump in bed with inl so close to the edge.Is their something else we are not being told for the better (I hope so) ?.

I will assume us mere mortal shareholders wont get a look in on the cap raising as we are not "sophisticated investors" ....just suckers which means more dilution of sp but most of us wouldnt participate anyway ....would we ,would we ?

Congrats that they have their first project but their qtly throws up more question than answers ,
Ps boys dont pop the corks yet ,we cant afford you too.