G'day Lordlucas Revisiting NLG going through financials they are...

G'day Lordlucas

Revisiting NLG going through financials they are pulling in plenty of revenue however the net profit for 30/6/09 was $387K and this actually included $17M gain on forgiveness of debt from Hedley.I have looked at the figures and the main problem is the interest bill.Total equity is $30mill so this gives an NTA of 6c.Other major holder Laundy holds 15% and would not sell out low as they were buying at 13c.Who owns TWH Hedley shares now? - the banks/receivers?
NLG is looking at its options due to the amount of debt it holds.