Weboz quarterley report for period ending 30 June 2004 lodged 2/8/2004 has a cash position of 31k - look that one up on the ASX website.
Then as you point out in prospectus in September they now by some miracle have $419k in cash. No mention of any share issue between June and September so where did the cash spring from. The company did not do anything. It wouldnt have been through selling CHM sahres would it ?
Reverse takeover of Winterfall took place in September 2004 by which time 500k of payments had been made by Winterfall as prospectus disclosed that MMX were taking over the obligation for the balance 500k.
During the above period was when CHM cheques got paid to the vendors who sold to Winterfall.
Any funds raised in early 2004 according to June report were gone and this was before the IO cash payments.
Nice try but its all there in these documents including no disclosure as to how MMX went from 30/6/2004 position to position as disclosed in December prospectus as at September 2004.
It doesnt add up and I think CHM have gone to court to explain how MMX got from a delisted to pretty close to insolvent company in August 2004 to one in comtrol of the assets a few months later.
CHM Price at posting:
10.0¢ Sentiment: Buy Disclosure: Held
