spoke to maria

I asked Maria when the annual report would be lodged. She said the negotiations with Hawkswood were continuing and therefore the annual report was delayed. I asked her whether it would take a week or longer. She said that it should be lodged in a couple of days max or even later today. This is great news. She also said that ADY did not have the funds and therefore this was being negotiated.

I have worked for PwC in the past. If the amount is not paid, or there is no agreement, the audit opinion would be qualified. The serious liquidity problem also has "going concern" issues. Therefore the loan problem needs to be resolved.

However, I know that the company has significant assets, which can be sold at good prices. The company can also borrow by mortgaging the assets. The top companies on the shareholder register can also assist with loans/share investment.