Aged care royal commission, page-2

SSM I think you are forgetting the billions of dollars that were committed to the redevelopment of the Aged Care Industry under Howard. At that time SVA secured its grants and tried to establish its product support. It didn’t happen and nothing has changed. They had their chance and it’s over.

The announcements are confusing at best. No mention of revenvue development (that should tell you something). Then they say that they are rigorously controlling cost - but they went up by 23%. What would they have been if they werent rigorously controlled.

The company now has $1.15m in the bank and forecasts to spend $1.5m this quarter. They have another $1m they can draw on from long term (long suffering) investors. So that gives them maybe 6 months of cash to keep things propped up. Sooner or later this we’ll will run dry. The only thing that can keep it afloat is revenue - and management isn’t giving you any joy about that.

Ho hum.