Originally Posted by
Beagle
I'd prefer to see the full financials before commenting in detail mate but those sort of numbers don't normally go together unless the company has been trading at massive losses over many years. Those debt level's appear to be an extremely serious concern. If a company has net liabilities of $132.9m how are they still a going concern ? How debt and shareholders advances could have ever got that high is what I'm especially interested in and most especially what this says about managements ability.
I'd speculate a recapitalisation is desperately needed and Macquarie's could be in for quite a haircut on their shareholders advances.
Caveat Emptor on this one, definitely one to watch for some creative revaluation of assets. :eek2: