Superwoman Group (Superwoman) is at risk of financial ruin if its $1 million bridging finance is withdrawn, the company's interim financial report has found.
The troubled financial services group secured two financial injections of $500,000 from Intrasia Capital Pty Limited and Firstmac Limited late last year.
In late February, both groups agreed to roll over their loans for a further six month period.
In the half year that ended on 31 December 2010, Superwoman earned income acting as an arranger for a structured investment product series issued by JB Global Pty Limited.
"A profit of $239,730 was recorded for the period compared to a loss of $2,861,898 in the prior corresponding period," the report said.
"This includes a gain on forgiveness of debt from an associated company Superwoman Financial Solutions Pty Ltd in the amount of $833,011."
Company cash flow used in operating activities was $606,610 compared to $2,265,725 in 2009, the report said.
Last year, Superwoman blamed poor management by its former executive team for the company's net loss of more than $5 million.
The company reported a net loss of $5,865,589 for the financial year end 30 June 2010.
At the time, the company stated it had called in ASIC to investigate a related party loan that involved the alleged transfer of more than $500,000 out of the firm by a former company director.
The Superwoman board said it continues to resolve claims against former of the company and is considering options to recapitalise the company.
