Ann: September 2018 Quarterly Report, page-18

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buddy134

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05/11/18

08:44

Post #: 36387285
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Originally posted by Mellow Yellow ↑

Originally posted by Pupamancur
Well guys, this is the simple maths: the estimated outgoings from the report for the coming quarter are being unequivocally stated as $12,851,000.

The cash at bank is stated as $143,000 .

By my estimations, correct me if I'm wrong, a quarter is made up of 12 weeks.

Each week the expenditure equals $12,851,000 /12 which equals $1,070,916.66 (which coincidentally ends with the so called devil's number) per week.

This in turn would suggest we are insolvent as of now.

Does anyone think that the directors will be notifying ASIC and ASX that they are now probably trading insolvent. I believe that is an offence to trade knowingly insolvent.

I think I can hear the fat lady in the near distance. The doppler effect is getting louder by the minute.

Again correct me if I'm wrong, I would like to hear your opinions.

Sentiment: banging head on wall. sell: if I only could !!!!
Position: head against wall hoping that eventually it won't hurt any more.
Is it still considered trading insolvent if the shares and operations are suspended?

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I think so. As a matter of facts I am sure about it. If they can't meet their debts a they become due, they are then insolvent.

I wonder what the ASX and ASIC are doing about it or if they are too busy with answering the Royal Commission for what they have or haven't been doing.

CDU Price at posting: 23.5¢ Sentiment: None Disclosure: Held
1 Upvote

0 Great analysis

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Ann: September 2018 Quarterly Report, page-18

Top Stories

History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025

IAG snaps up RACQ's insurance business for $855M

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

This biotech stock raised $11M in a risk-off environment. Its Alzheimer's drug could change the game

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up