Watch This Space, page-3154

It's actually not debt. It's a warehouse facility to fund customer purchases and is probably secured against the receivables ie not much risk to Goldman Sachs. They have no equity risk, unlike shareholders.

SPT lost US$25m in the previous 6 months on GAAP revenue of $US6.7m. The loss was higher than the previous corresponding half despite MSV more than doubling.

The only thing SPT has going for it is its cash balance, which at this rate will be burned through by the end of this calendar year.

Another cap raise anyone?