On the surface its worst than that, the R&D funds are going to PBB Advisory the limited liquidator.
Coates and Associates super fund, if anyone is not aware, it is them who appointed the limited liquidator, sheldon coates is or was the chief geologist for FAS.
Regarding the R&D return it should be about 1m$ as PPB Advisory received about 1.m from the last return AND ALSO have ALL of the money from the R&D refund which was in the bank and not declared in the june qty, as quoted .7m$ +1m+1m in total 2.7$.
Fins need to be prepared an ASIC requirement, it will be up to PPB to authorise payment of a/c (in full)? before asking for about another 60k worth of audit report. As for the AGM, I dont know whether or not FAS is bound to produce one, in it current position.
Is there enough to extinguish the outstandings to Coates?
Will all parties including ASX ASIC negotiate to wait 'till soon arrives?
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