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5.7¢ pharmx technologies limited

"On the 25 January 2017 the company received an income tax...

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449 Posts.

9

16/03/17

15:32

Post #: 23403957
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Originally posted by roboshan ↑

Given Corum's strong balance sheet/ cash position there is no likelihood of a wind up any time soon. Of corset investors are all hoping they can start to turn the business around through organic growth or acquisition in the near future. Although disappointing to see the current amount of cash burn, we can put up with it comfortably even considering the reduction in revenue and current investment in new product development and equipment.

The $4.6m short term liability only appears problematical because the payment services transactions amount can't be ever treated as income or a cash asset (it doesn't belong to them). They make some income only through fees/commissions. However, of course if someone ran off with the cash (effectively held in trust) they would have to repay it. That why it has to appear as a current liability on the balance sheet. Although I have never had this clearly explained to me or have a great knowledge of accounting rules, that's my take on it. Anyone like to comment on this as it does create confusion.

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"On the 25 January 2017 the company received an income tax refund of $639,000 relating to the 2016 financial year."

At least that's a positive !

COO Price at posting: 4.9¢ Sentiment: Hold Disclosure: Held
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Last 5.7¢		Change 0.000(0.00%)		Mkt cap ! $34.11M

Open	High	Low	Value	Volume
5.7¢	5.7¢	5.7¢	$11.15K	195.6K

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No.	Vol.	Price($)
1	30000	5.3¢

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Price($)	Vol.	No.
5.6¢	16144	2

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No.	Vol.	Price($)
1	30000	0.053
1	15000	0.052
3	68976	0.050
1	143911	0.049
1	200000	0.046

Price($)	Vol.	No.
0.056	16144	2
0.057	802301	2
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0.062	500000	1
0.065	500000	1

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