Sunbridge and Pandist Websites, page-12

Unlikely they will tell you.

I don't think it is relevant anyway to the business, you have to take it as a given that the audit is fine.

Can't be questioning the auditors.

The biggest valuation issue with SBB is the cash. Okay so they have $28m which is 6c a share or so. Is that $28m unencumbered in the bank to be used for whatever, or is it encumbered and tied to stocks, leases, rollouts, banking covenants.

The business is ticking over fine as per the public info.

So is it 12c ( free cash + business ) or is it 6c ( business only no free cash ).

The cash is the key in my opinion as to the value at the moment. Personally, I don't think it is 'free'.