1(a)
the annual report states: "On 29 July 2015 the Company announced that it has entered into a loan deed with a private lender for a facility of $1,000,000 that is secured against all of the assets of the Company. The Company drew down the first $260,000 in August 2015...."
1(b)
the Quarterly Cash Flow Report ended 30/9/15 does not show any entry at" "Proceeds from borrowings" for an amount of $260,000
1(c)
the Quarterly Cash Flow Report ended 30/9/15 does not show any entry at" "Repayment of borrowings" for an amount of $260,000
2(a)
the Quarterly Cash Flow Report ended 30/9/15 shows "equity investments" for an amount of $422,000
2(b)
the Quarterly Cash Flow Report ended 30/9/15 shows "Loans / Deposits to other entities" for an amount of $844,000
3(a)
at 30/6/15, the annual report shows the company had the following liabilities
- Trade creditors 984,313 (disputing $706,258)
- Accrued expenses 47,675
- Payroll liabilities 22,364
- Other 136,713
3(b)
the Quarterly Cash Flow Report ended 30/9/15 does shows $743,000 in payments for administration expenses, which we can assume were for the $484,807 undisputed liabilities above and a further $258,193 in new costs for the quarter
4(a) the prospectus of 12/8/15 states: "The funds raised from the Offer are planned to be used in accordance with the table set out below:
1. Exploration $263,000
2. Payment of creditors $500,000
3. Expenses of the Offer $115,000
4. Working capital $606,155
Total $1,484,155..."
5(a)
on 22/10/15, the company raised a further $330,000
6(a)
the Sept quarterly report closed with $226,000 in cash and a forecast next quarter spend of $170,000.
6(b)
including the $330,000 raised on 22/10/15, the company forecast around $386,000 in cash at 31/12/15
