GREY:SNIOF - Post by User
Comment by
Polebrookon Sep 30, 2014 7:22pm
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Post# 22984792
RE:Much more of the same !!
RE:Much more of the same !!
Sailor, I looked at note 19 of the full accounts and it seems to imply that there is another $1.1m of movie royalty advances which will become due in the "short term". Since the note calls out another $54K that is payable in 2 years, the "short term" must be 12 months or so from the end of May. This is on top of the $2.3m write down in advances paid to the studios to the end of May. So of the $1.9m of cash at May 31st, $1.1 appears to be already committed to the studios for continued access to the 3D movies for 3DGo over the next 12-18 months. The company is making about $50K/month in combined revenues from 3DGo and licensing and is burning about $275K/month. This is probably why the auditors gave the going concern opinion.