"Overhead costs Together with the reduction of the Group's asset base, the directors have continued, wherever possible, to reduce overhead expenditure. This has principally been achieved by reducing the number of the Group's employees and directors. As of 1 April 2013, the Group has had only one employee, and it is intended that this will be reduced to nil during the course of 2013 with the directors instead utilising external consultants as and when required. The corporate overhead will continue to be reduced in line with the Company's requirements and in line with staff numbers. The terms of the Utilico Facility as previously announced have been varied to enable the Company to draw down funds in order to meet general working capital requirements."
CWE Price at posting:
6.1¢ Sentiment: LT Buy Disclosure: Not Held
