Show everyone the money Max ... what do they have in hand in...

Show everyone the money Max ... what do they have in hand in reality?

From their Qtrly, ending cash is AUD$114K which @0.7FX cross rate is US$80K

From Magna financing they get US$275K now with a potential for another US$75K if no terminating event occurs (and one has occurred according the definition in the prospectus).

So that's US$355K .... what else they got?

Oh the sale of EFS asset for US$1.05M ....yeah that asset has a RBL pledged which appears to me to be close to fully drawn to US$1.5M .... still owe the bank US$495K IMO.

Each Pierre well estimated to be D&C for US$500K. Terrific and the Chairman controls the drilling company and it appears to be an annualized lease for 12 months with fixed payments. What are the completion costs?

Oh and the estimate for next Qtr G&A was AUD$278K or US$195K ...best subtract that before anything else....given last Qtr Revenue from production was AUD$236K this Qtr will likely be under AUD$200K given oil price and natural decline ... so after paying production costs might have US$100K contribution

Tallyho US$:
Starting cash: 80K
+ Cash Netback on production: 100K
+ Magna 1st tranche: 275K
- G&A : 195K
- 1 Pierre well: 500K

and you get -$240K.... does not compute for me (one of the many things that don't compute on this one)

Tell all what money they have in hand?

My comps are above and transparent. Divergent computations are OK but let's see the substantiation of them or at least what assumptions can be made that change things up.