where do you think SB will proceed to from here??? it appears the only free cash SXX has comes from the loan of Mark Johnson
my impression is the only significant asset SXX has is 2,640,165,022 DTR shares
at the current DTR share price of 0.25 cents, it appears SXX is worth 0.59 cents per share
at 31/12/18, the net liquid assets excluding DTR shares come to $1,636,824
at 31/12/18, the liabilities come to $1,828,524
on 07/02/19, SXX received DTR 2,400,150,022 shares or $4,800,300 in debt repayment
the 30/12/18 SXX balance sheet shows:
* $5,452,652 in receivables
* $1,105,863 in financial liabilities
* net assets $4,629,078 at 30/12/18
The amount owed by Dateline Resources Limited of $5,452,652 is made up of: • $1,607,830 (June 2018 $1,330,541) which are expenses paid by the Company for and on behalf of. Dateline Resources Limited. This amount is unsecured and interest free. • $3,844,822 (June 2018 $2,416,967) which represents unsecured loans including interest. Refer to the table on the following page for details of loans made which are unsecured and repayable on demand. Interest of $278,855 (Dec 2017, $NIL) was charged on the loan during the period.
As detailed in note 19, $4,800,300 of these receivables were converted into shares of Dateline Resources Limited on 31 January 2019. All other debtors are unsecured and non-interest bearing. The balance of the amounts in debtors is expected to be received according to commercial arrangements.
Loans from Mr. Mark Johnson as at 31.12.18
Advance $1,095,863
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