Stock exchange plays hardball with SLA, page-4

SLA's web page may look impressive and professional, but the company is not.

It was way back on 1st March 2012 that ASX suspended SLA for not lodging reports and accounts.

SLA did nothing to try to rectify this breach of ASX listing rules until the middle of last month.

In each successive year, in the reports lodged three weeks ago, the auditors pointed out the growing amount of liabilities in relation to assets.

In the report for 2015, the auditors state:

"The consolidated entity incurred a net loss of $6,441,971 during the year ended 30 June 2015 and, as of that date, the consolidated entity’s liabilities exceeded its assets by $16,746,833."