The Auswine Forum

It's just been posted on the Winepros site, total income from Customers was $13,000, net operational loss for the quarter $87,000, cash on hand $2,149,000 after raising $2 million earlier in the year.

Notice the retail wine sales partner has changed too...

There doesn't appear to be any sign of a plan to do things that might improve the cash flow (there wasn't in the prospectus for the capital raising either), I wonder why people chipped in the $2m and if they will just let it fade away, maybe there is a tax dodge here somewhere?

Oops, that was me.

Looks like someone is being paid $100,000 for doing nothing.

With results like that there is no way they can keep going, in fact I am surprised they didn't shut up shop long ago. I always maintained that having the most current TN notes available for free whilst charging to see the older ones was arse about.

If they close it will be a shame at it is a great resource (when it was kept up to date).

As to getting paid $100K there are expenses for the directors and they would have to pay some staff costs as well as Halliday getting a $ or 2 for his tasting notes royalty.

Brian,

This has been around for a while, the ASX website is now showing the quarterly results to 31/12/03, postied on 30/1/04 Link to Winepros Announcmenbts on ASX

Receipts for the Q2 were $1,000 with 10K staff costs down from 36K previous quarter on receipts of $13K. Operational loss is $83,000 taking it to a loss of $170,000 YTD. Net Cash Flow was improved by a $230K sale of investments, and their Cash remains at the end of the quarter at $2241K, up from $2094K in the previous quarter.

Thanks Murray, I guess it's telling that the previous report was only posted on Winepros on Feb 20 2004, why didn't they post the more recent one too I wonder.

Looks like they are just in skeleton crew mode, no income other than sale of assets, can't be too many of those left.