For those who are visually-impaired or factually-challenged, the...

For those who are visually-impaired or factually-challenged, the most important part of the article, I believe, was "According to Lawler Partners, the ability of the company to continue as a going concern was dependent on a research and development tax incentive, the recovery of debts that had already been fully impaired and raising further capital."

Coupled with "These conditions . . . indicate the existence of a material uncertainty, which casts significant doubt on the group's ability to continue as a going concern," audit partner Clayton Hickey said in his October 31 report." an intelligent person, would only be able to draw the conclusion that the company was on the verge of death at that time.

Now before anybody runs off and says "but the tax incentive was paid", yeah and it cost us $90k to directors in the procees of getting the incentive and then the incentive was delivered straight to the directors as salaries and repayment of debt (earning a ludicrous rate of interest), and the statement uses AND, meaning all are required. As I understand it,

1) Mr Goh, a director of a subsidiary, is the "recovery of debts", of over $1m and now nearly 2 years over due and

2) Raising further capital has been done in the form of Mr Eu, who is no doubt recovering his investment in director fees as we speak (as board members of NuSep tend to do). He is probably due a bonus soon, along with Mr Goh who has paid his obligation via salaries we paid him for doing.?.?.? Otherwise, not a penny has been raised...BUT SHARES HAVE BEEN ISSUED TO THE BOARD for lending money that they never actually lent.

K, you used the term 'farcical'. I can think of a lot of terms which would be more appropriate. When the auditors, the first ones, accused the directors of 'criminal' actions, then we have to take these informed people at face value. Those with unsubstantiated and vague claims, we'll take them based on your historical success at predicting. Otherwise, substantiated facts rule. And it looks as bad as the share price. I think there's only one person happy about seeing the price lower....rejoice in the misery of the masses maRie antoinetteB.