RamPage01BAR20 has been always been a cash cow, & until now, the...

RamPage01
BAR20 has been always been a cash cow, & until now, the only PPN project that didn't fail.

There is an entry fee of around $20 according to my son's mates. They also have Gold Cards and perhaps other memberships but I don't know what they cost. There is very little useful information on the website:
http://www.bar20.com.au/content/index.html

The number of patrons was discussed at VCAT and compared to other clubs, but I don't think the Senior Member accepted the figures.

Shortly after PPN/DPL acquired BAR20 in 2003, shareholders were provided with regular updates on turnover and we all had high expectations. One such announcement on 10 March 2004 was titled "Showgirls Bar 20 Renovations /Turnover"
After the resignation of Andrew Harris, the ASX announcements dried up and all we get now are the statutory reports. In the notes at the back of the reports you sometimes find clues to events that should have been disclosed earlier.

How are cash and sales monitored? Who knows! PPN pays good money for an independent auditor so I hope they are thorough. Why was the former auditor suddenly replaced last year?