Just when they thought they had no more credibility to lose,...

Just when they thought they had no more credibility to lose, they manage to lose a bit more.

Here's something interesting:

Quarterly Report, end of Jan 14: 31/12/2014 - Cash at end of Quarter, 31/12/2014 = $1,599,000 (page 2)
Half Yearly Report, mid-March 14: 31/12/2014 - Cash at end of Half, 31/12/2014 = $223,448 (page 12)

So how can the same company with the same accounts for the same day show a difference of $1,375,552 in cash - surely its a bit more than just a "rounding error" ?

Its also interesting that the difference is almost the same as the $1.3m raised from the placement to the two Chinese sophisticated investors ($1m) and the loan provided by Quinn ($300k).

I look forward to their next cashflow statement at the Quarterly.