loopy #4863

I have some questions regarding your financials:

– why is the “Hydrogen filling station valued at A$300,000” not shown on the balance sheet?
– if “The borrower has invested approx. 4.6M in Research and Development”, why are there no significant R&D expenses recorded in FY 2013, 2014 or 2015?
– revenue increased by over 600% in FY 2014. What happened?
– “Administration expenses” were recorded as 157% of revenue in 2013, and 85% of revenue in 2014. What is included in those numbers?
– in FY 2015, net assets on the balance sheet increased $544K (mostly motor vehicles and “intangible asset”) on only $67K in pre tax earnings. How is that possible? There are no expenses recorded to offset the addition of those assets.
– in FY 2015 you recorded $177K in donations. Was that prudent for your company in its current position?

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leotyndall #4938

HEMS Global is the Hydrogen Business, the Globo Hydro is the company that runs the bus company. R&D expenses are in the HEMS Global accounts, and a lot of the answers will be dealt with by seeing these accounts.

However, we haven’t supplied these accounts yet because external auditors are completing the accounts for HEMS Global, we will be providing them in very near future to Marketlend.

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