Probably would then have to comment on the Gandel loan of $2.1m which is due in February and by looking at the cash flow there is not enough money to pay it yet they spent recklessly again and so as usual they just will not worry about it as the law does not apply to them
For a company that do so little in the way of reporting it seems excessive to have spent $921,000 on admin and corporate costs in a 6 month period. When you consider that they didn't even bother with an AGM and they never do updates it is very large for a struggling company that do not bother with standard reporting obligations. Something is very strange here. There are many small companies out there who do all the standard and obligatory reporting for a fraction of that cost. This along with the staff costs of $5m is ridiculous and if this results in the company defaulting, we must seek legal advice urgently!!!
