Audio TechnologyWoodgate & Co. was appointed Voluntary Administrator of the company which had sales of approximately $A14M. At the time of the appointment, the company had cash at bank of $60,000 and a payroll of approximately $200,000 to pay in a few days. The company’s daily cash burn rate was $21,500. The lack of liquidity obliged the Administrator to suspend the company’s trading operations whilst the international market was canvassed for a buyer of this audio technology company with offices in Sydney, Los Angeles, New York, London, Paris, Berlin and Holland. The Administrator successfully sold the company’s business. The company subsequently went into liquidation.