Ann: Successful Brand Sale , page-2

Looking at the financial statement in the annual report, there was $26m of current assets compared to $39m of current liabilities. Negative $13m net current assets is not an insignificant shortage.

Maybe the recent $7m of asset sales were necessary to fund short term commitments. There could still be a further shortage of ~$6m, which may lead to further asset sales.

The net assets of $61m is favourable compared to the current market cap of $17.2m. Even net tangible assets is $32m. Selling off assets is not so bad at this SP, it'll push the SP towards NTA or NA as long as they are sold at approximately book value, and assuming the remaining assets are profitable.

The company is pretty quiet with announcements, but they do seem to be making some progress...