The published figures show that EFTel is bankrupt with fictional "other assets" attempting to creat an illusion that the company is solvent.
The accounts receivable, for a company with such a small monthly turnver (and with previus significant write offs) is probably as fictional as the "other assets".
The positive aspect is thaat the cmpany continues to trade and there are no 'claims' against the company. That only means that it generates enough current cahflow to keep operating and as the creditors figures are not aged in the published information the company coud be trading at a significant monthly loss while still being able to pay its creditors enough money to keep them from ceasing supply.
It's very unlikely that such a fragile "rob Peter to pay Paul" scenario can continue to exist for much longer.
EFT Price at posting:
3.5¢ Sentiment: Hold Disclosure: Held
