No surprises here....except I still get a chuckle when I see a "we have no joint ventures..." kinda comment in the half year report as it flies in the face of what the minions have been claiming in other announcements.
No Paul Morrell on the horizon yet but a nice mention of his gratuitous gift on behalf of others was mentioned. If that $5m was not in the accounts then the company would have around $60k as effective working capital and that would get chewed up in less than 3 months.
Does that mean they are heading towards technical insolvency? Certainly a negative cash-flow situation is prevalent. An (supposed) NTA of 11 cents wont mean much if that is the case.
And as for strategy and it is coming it is coming...by the time it comes out it will have been executed upon and a new one issued and that one executed upon as well, by their competitors.
Why did anyone ever think they would get this off the ground.....me included.
Ann: Half Yearly Report, page-4
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