The amount of money and the consequences of not receiving it as planned has a material affect on the cash position of the company.
OUTSTANDING DEBT GLOBAL TECHNOLOGY INVESTMENTS LIMITED The Directors of Argus Solutions Limited advise that a debt of $250,000 owed to it by Global Technology Investments Limited, a Hong Kong registered company, which was due on or before the 30th June 2007 was not paid. This money was due as a part of the placement approved by members at an EGM held on Tuesday 13th March 2007. The amount of money and the consequences of not receiving it as planned has a material affect on the cash position of the company. The rest of the proceeds from the placement ($700,000) were received before the EGM and held in escrow pending the approval of members at the EGM. Legal action is being taken to ensure that the funds are received.
ASV Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held