sooner or later all this must come home to haunt GCN plus the...

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darcy7

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08/10/14

18:27

Post #: 14095291
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Originally posted by mike_au1 ↑

How generous are Sino, on page 52 of the 2013 annual report it states the following...

(C) LOAN FACILITIES
Loan facilities 2,100,000 2,100,000
Amount utilised 1,127,562 962,669
Amount unutilised 972,438 1,137,331
The Company has received continuing loan facilities:
- with a limit of $1,000,000 (2012: $1,000,000) from Sino Strategic International Limited, It has no
maturity date and the interest rate at the end of the financial year was 4.81% (2012: 5.59%)
- with a limit of $1,100,000 (2012: 1,100,000) from Sino Investment Services Pty Ltd. It matures on 30
September 2014 and the interest rate at the end of the financial year was 4.81% (2012: 5.59%).

Now on page 52 of the 2014 annual report its states the following....

The Company has received continuing loan facilities:
- with a limit of $1,000,000 (2013: $1,000,000) from Sino Strategic International Limited, It has no
maturity date and the interest rate at the end of the financial year was 4.66% (2013: 4.81%) The loan is
repayable, under an agreement between the companies, only at the discretion of the board of the
GoConnect.
- with a limit of $1,500,000 (2013: 1,100,000) from Sino Investment Services Pty Ltd. It matures on 30
September 2015 with no interest.

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sooner or later all this must come home to haunt GCN plus the case today which must
now be settled within 14 days,no more adjournments according to the Judge.

GCN Price at posting: 1.2¢ Sentiment: None Disclosure: Not Held
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