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I thought I had seen this somewhere...

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  1. FactorX
    867 Posts.
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    06/06/12
    16:00
    Post #: 10274478
    I thought I had seen this somewhere before...

    http://www.asx.com.au/asxpdf/20101129/pdf/31v730vpnhg7bj.pdf

    This document is from the AGM held in November of 2010.

    Page 10 "18 months to first sales". 18 months from Nov 2010 would be May 2012 by my calculation. When are the "first sales" coming?

    Page 11 of the AGM 2010 had a budget not too dissimilar to that on page 10 of the document today. 2010 doc had profitability in 2013, where today's doc has 2014. Extrapolating that, can we reasonably expect profitability to really be in 2016?

    Also on page 10 "Cornerstone investor secured - $3m invested" What happened to this investment and why were we not told anything about it? Has the money been spent and was it spent on the Singapore project?
    MEM Price at posting: 3.5¢ Sentiment: None Disclosure: Held
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