Minutes of meeting, page-50

We issued $1.7m AUD worth of shares @ 9c on 20th Jan .... more than enough to cover the $1m USD owed and in plenty of time to meet the deadline of 27th Jan.... the rest of the SPP followed on 25th and 27th Jan.

you would have thought that paying the $1m would have been a priority ... otherwise you are right - we would forfeit the $5m already paid - and there should be no CGT liability

I can't understand why management wouldnt pay up in time - and without having the annual report - all us minority shareholders are like mushrooms (in the dark)

Would like to have seen this contract that BB was responsible for drawing up.
it just goes to show that he must have been completely out of his depth.
We lacked the resources / personel to adequetely cover our behinds..... but you know what they say about poop and it rolling down hill.