This company owns nothing. Just a bit of cash which it has managed to spend most of what it did have at the beginning.
The company raised $1.2 million in August 2009 and raised another $180,000 recently. That's a total of approximately $1.4 million. As at 30 September 2010 it had $361,000 left in the bank. Where has all this money gone? Very prudent spending?
This company is just a shell with a few announcements about some educational software and the prospect of participating in a "blue sky" bauxite exploration program. Fancy that purchasing a 15% interest in a bauxite tenement. What a joke.
In my opinion you are throwing good money after bad money investing in this penny dreadful.
The only way this company will survive is if someone wants to pay a considerable amount to back door list or some silly people out their take up placements.
Take a real good look at what this company is all about. In my opinion there is no real business plan for this company. It's all about trying to make some quick bucks.
LinkedIn profile on Executive Director
Check out ASQ Financial Group (ASQ). Another attempt at trying to make some quick bucks with his mates.
There are plenty of other clean companies around capped at half the price.
Good luck and I hope you punters out there don't get too burnt.
Cheers,
;)
Nic
Disclaimer: This is not investment advice just my opinion
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