what announcements due, page-29

Doc: Marty, Marty we need to go back to 2003.
Marty: Come on Doc that was so long ago.
Doc: Marty, Marty it's an important accounting matter.
Marty: OK Doc, help me get the cover off the DeLorean.

2003 JRV Cash in Bank $40,298
Finacial Assets
Interest
2% Floating $14,298
12% Fixed 1 year $407,098
10% Loan $397,452 which includes $300,000 from directors own pockets.
Doc: Marty the directors were charging 10% interest on their loan.
Marty: But Doc they could get 12% on a fixed deposit. Borrowing costs to JRV are only $22,452.
Doc: Marty I don't understand they're ripping themselves off. Directors are supposed to be greedy. Snouts in the trough. Marty, Marty I don't understand.
Marty: Don't worry Doc this company will not be around in 2008. Nobody wants nickel, cobalt, gold or what the hell is scandium?
Doc: We've seen the future Marty. They're still around and they've got more money in the bank.
Marty: Lets go Back To The Future and buy some stock.
Doc: Marty I'm going to upgrade the flux capacitor and install a fuel cell made from a scandium stabilised zirconian.
Marty:Aaah yeah right Doc I really understand you.

Deepdiver Start your engines.