optimism is represented by the people who converted 814 options at $1 each. optimism is represented by the company in lending money to amazon resources (from memory, there were some common directors) - and then writing off the loan -mmmm it seems that gda have given amazon resources a $750,000 loan facility - of which $530,000 has been forked out, and also written off - see note 9 to the accounts.. ie
"The loan receivable is an unsecured converting loan to Amazon Resources Limited (ARL) with a limit of $750,000, of which $530,000 had been drawn down at balance date (December 2012: $400,000)."
if amazon resources borrow to the limit of the loan facility, then gda will be pretty close to running out of money by about xmas time. one wonders how many shares will be on issue by the time that royalties start being paid..
there is always the chance that gda will sell the royalty stream
GDA Price at posting:
4.9¢ Sentiment: None Disclosure: Not Held
