The cleansing statement is most definitely a scary one. one step wrong and the lender has even more control of the company that the majority shareholders themselves (Stone Resources and its directors).
But I have to correct you, CURRENT LIABILITIES are 13 MILLION and improvement on last years audited $19 million liabilities.
After taking into account the increased share allocation it would appear that the company has simply tread water for the last twelve months.
It would appear that SHK will sink like a stone if cash flow ceases ......... not unexpected given the stellar performance of the past directors.
I do however find it interesting that Bill accepted a directorship given the dire financial conditions ....... perhaps he knows more than us ......
GC
SHK Price at posting:
1.0¢ Sentiment: None Disclosure: Held
