I see that the company responded to the ASX's query re cash adequacy by saying they'd taken "... measures to reduce administration ... costs" and " the Board has been reduced from 6 to 4".
The "Finance Director" resigned 10 days after re-election and the "Legal Director" ditto saving the company $103k pa in D/Fees.. The company averaged $346k per quarter over July to December in Admin (excluding the $319 legal costs), this 7.5% reduction is a joke.
And did you note that the company stated that it will be ok for cash into the future as it will simply raise new capital from shareholders to convert into salaries etc.
Bah, humbug - what a joke!
thank goodness for cost savings
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