As I've posted before, it's the Directors responsibility to make the call - basically they would have to satisfy the test that they reasonably expected the company to be able to pay it's debts as and when due - in this case with excess current liabilities vs. assets this would rely on the ability to either borrow more or raise more capital - both IMHO unlikely.
Someone has to call them on it though, and sadly ASIC has shown time and time again it is p*ss weak in this regard - again IMHO only of course!
QFX Price at posting:
0.2¢ Sentiment: Sell Disclosure: Not Held
