The company is tied in knots because of non compliance. That's...

The company is tied in knots because of non compliance. That's not really debatable.

I do agree that hats off to the Directors for hanging in there given the high risk of Directors duty liability.

Yes, capitalise whatever way thay can at any cost to current shareholders. But please understand that compliance is a statutory requirement, not something that you can pick and chose to suit your own desired picture of how a company is performing.