""Taking into account the final settlement proceeds due from MEO, the companys unaudited working capital position was a surplus of $4,737,784 at the date of this report."" (rpt date 14-10-2010)
The cost overruns at Braveheart/Cornea were the culprit.
So they had $4.7mil on 14-10-2010 after receiving all monies from MEO, less the $1.1mil estimated costs for Dec qtr leaves around $3.6mil or 1.25cps cash backing.
Hope that clears it up.
MOG Price at posting:
6.5¢ Sentiment: ST Sell Disclosure: Not Held