Quote ="nestegg"Agree 'Nothus'.
And that is the figure as of January this year, and as far as we are aware suppliers have allegedly not been paid anything substantial post end 1/19. And that accrued debt excludes our £150K plus alleged misappropriated funds bombshell, which will likely be disclosed over the coming weeks.
As Martin Wildbull will probably tell you these abridged figures/ accounts don't in all likelihood tell the whole story. We further fear that sums of cash may well have been taken out of the business. The Bulls is to a certain extent a cash generative business and it's nigh on impossible to trace where all the cash ends up and in who's pockets it may have allegedly been deposited.
Of course we may be 100% mistaken in respect of all of the above and everything to do with the Bulls/BB17 (and the RFL) may be whiter than white both historically and moving forward.'"
Cash generative business!!! What planet are you on? Chalmers or whoever was backing him has most likely put £1.2m of cash into the business. That is what the creditors due over 1 year are likely to be. The increase in creditors under a year is the critical one, but do not forget that the date is January this year when there would probably be more season ticket receipts in that figure (and was in the bank account figure but as you can see has then been paid out as the bank account has gone down from £91k to £1k.
No wonder he was talking to people back in March. No wonder he wanted to cut the overheads, because putting about £600k cash into the bulls every year is not sensible.
If any cash has gone out of the business then it would likely be money due to Chalmers or his backer, who are creditors like any other.
So the tally now is: OK put £1.5m of his own cash into the Bulls, Green put £1.0 Million pounds of his own cash into the bulls, Chalmers has put £1.2m of his/a n others cash into the bulls. to me that proves they are idiots not thieves.
One thing I do agree on Nestegg, is it smells, and a totally independent review is needed.
