Ann: Trading Halt, page-13

With the large volume traded on Friday there was obviously some inside trading that would make the assumption that a deal will be done and the financiers have accepted some debt write off. It would appear this being the case the new owner will asset strip and maintain the revenue book and once all tided up put the company back on the market for a profit. I am not quite sure why the ASX did not place a trading halt earlier rather than see current shareholders value substantially drop? The problem now is if the announcement is not positive the existing shareholder could watch their investment reduce further without the option of selling out.
I had previous concerns with this company over 18 months ago where we sold out, and to see the current Directors & Management still at the helm is a disgrace, they claim they have free cash flow of $10 million a month so why wouldn't they temporarily stop all new contracts for 6 months, rationalize expenses and pay off the $60 million required??? hopefully they will be held accountable at some stage as the have total disregard for all shareholders apart from themselves.