So what's the current level of debt then? From the latest...

So what's the current level of debt then? From the latest quarterly report:

"At September 30, 2014 the principal debt to The Roy Morgan Research Centre Pty Ltd was
$31.69 million. Haoma has approved payment of interest on this debt at the 30 day commercial bill
rate plus a facility margin of 4%. Interest will accrue until such time as the Board determines that
the company is in a position to commence interest payments. Interest accrued for the 3 months to
September 30, 2014 was $907,754. Total interest accrued and unpaid to September 30, 2014 is
$23.587 million."

So Haoma owes $55 million to Gary Morgan, and the interest olone on that debt is increasing by about $900,000 per quarter. Yeah sure the chairman is funding the operation, but should it ever turn a profit, he will probably take the first $55 mill rather than distributing dividends. (Hah, an Australian gold miner paying dividends! I just made myself laugh so hard my coffee came out my nose)

Oh well, I guess every millionaire needs a hobby, Bondy had his yachts, Kerry Packer had his polo ponies, and Gary has his gold mine.

I wonder about his state of health. Gary is in his 70's now I can't imagine his kids being willing to carry on this adventure.