From tzinvestors:Ting mentioned that the difference between the...

From tzinvestors:


Ting mentioned that the difference between the Q1 end cash postion and the balance as shown by preliminary enquiries is MATERIALLY different.

Falconer had the balance at $7.9million

The missed QVT payment was $2.2million but had been reflected in the 4c as having been paid as part of the $2.4million expense.

So on this basis, the adjusted cash balance is $10.1million

Now because the QVT payment wasn’t made, we can only assume that they had NOWEHERE NEAR $10.1million. This is backed up by a point I brought up here (but couldn’t understand at the time): If TZ were okay for cash, then why did use $1.2million???

We have to pray that the reason that they didn’t pay QVT, was so that they could meet operating commitments. If not, then the amount which this board embezelled could be sickening.

I wonder when was the last correct financial report.

I feel queasy. I need to lie down.