Talk about a thread going off the rails. If the person who...

Talk about a thread going off the rails.

If the person who started this thread bothered to go and read the annual accounts/ring the office and ask questions then they might of picked up that in note 14 on page 43 of the annual report for 30 june 2014 there was accrued expenses of over 200k.

Turns out two of the directors carried the expenses of the company through 2013 and into 2014 while the UWA deal was put together. The amount was physically repaid in the last quarter but was already expensed as at 30 june 2014 is my understanding .

If you believe the story then they should be thanked for carrying the risk and getting it to the point where a commercial deal (UWA) was in place. Instead a whole bunch of mud was thrown.

They will have ongoing travel costs and other expenses I am sure from trying to commercialise the technology but from my limited research they dont seem the type to waste money on over the top accommodation etc.