trade creditors

The following PAST DUE CREDITORS are shown in the 2012 annual report of the company as being "impaired"

2011: $548,000 of which $314K was written off as at 30JUN'12 (57.3%)

2012 : $2,641,000 . . . . IMPAIRED

The company states in its accounts (Note 10) that payment terms on the $2,641,000 has been stopped, until full payment is received.

The question I now raise is how much of this money has been collected as at 30 DEC, 2012 and secondly how much of this money will be written off as a "bad debt" on 30 June, 2012.

Do your own calculations, I have done mine.

DYOR