"but according to the last Annual Report, they seem to have high % levels of gearing. Has that changed over recent times and what are the arrangements for servicing the present debt, which I admit, are not high in monetary terms?"
I am not really sure if you have the right company or exactly what annual report you were referencing?.I am unaware of any gearing arrangement for SBN,just a promissory note which did appear in the accounts as a liability to the tune of about $1m. This related to the purchase of SBL and all the associated IP. This has now been extinguished completely through the issue of shares and cash to the Mr Ming Sun, the holder of the promissory note and founder of SBL effectively leaving the proforma SBN balance sheet with zero debt going forward.
Done and dusted!
SBN Price at posting:
0.0¢ Sentiment: ST Buy Disclosure: Held
