Company Assigned!!!

So I have been assigned Genetic Technologies Limited as my company for this terms first assessment. This is an Australian based global genetic testing business, specialising in cancer diagnostics, with a focus on women's health.

I have to admit I was not overly thrilled with this and my level of enthusiasm dropped even lower as I began to read the Annual Report for 2014.

This is not what you want to have to write in a Financial Report. "Financial risk – the business now called Genetic Technologies Limited was established in 1989. With the exception of the year ended 30 June 2011, the Company has incurred operating losses in every year of its existence. As at 30 June 2014, the Company had accumulated losses of $92,175,113 and the extent of any future losses and whether or not the Company can generate profits in future years remains uncertain. The Company currently does not generate sufficient revenue to cover its operating expenses. There is also no certainty that the Company will be able to raise additional funds by issuing further shares and/or the raising of debt and, if such funds are available, on what terms the Company would be able to secure them." (Genetic Technologies Limited 2015, p. 36)

I guess it could be interesting at least? Don't suppose anyone else out there has a company slowly drowning in this economy?

Here is a interesting article on possible stock manipulation by my company
https://ipowizard.wordpress.com/2015/02/18/a-pump-and-dump-from-down-under-genetic-technologies-gene/

By the way it is cold and rainy in Belfast, and I have a day off so I think I need to take a break, have a hot chocolate and watch some TV. Any suggestions? I was thinking Orange is the New Black..

Signing out, Peace and Love


Genetic Technologies Limited, 2015, Genetic Technologies 2014 Annual Report, viewed 20th July 2015, file:///Users/Alex/Documents/UNI/ACCT11059/2014-Annual-Report.pdf