asset sales and phil thomas, page-15

The company had two core assets which it was/is proposing to exploit. Lots of promises and opportunities and a lot of information going to shareholders as per continuous disclosure and no significant cashflow . Lithium a lot of promise but just that-promise.IO underperforming with significant challenges. But IO starting to be a business ie sales , cashflow the stuff that businesses produce, but still underfunded. Major funding source goes into receivership so $10 mio you thought you had a year to repay becomes immediately payable-company now in distress oh BTW ADY was not the only company caught in the OPES mess ,lot of sophisticated investors got caught.
You're moving along with a number of parties and then the world changes and you are suddenly in the worst market the world has seen. Everyone running scared. You are a month from having a receiver appointed-NOW GO DO A DEAL and people -the few that are still interested or have money- know you have to do a deal. In the meantime the market is telling you that the company is worth $30 million . You have a week left to do a deal ,market is still in the crapper.
Now according to HC shareholders/posters you have $34mio up your sleeve for just this position , you have manipulated the share price down to 2+cent/share,you've somehow produced a buyer who couldn't have done DD while you were exploring a lot of options prior to the market crapping out,
it must be crooked because the company was formed a week before the transaction and is a $1 company -therefore you must be financing your own sale because you are in such a strong position with buyers jumping out of the trees in this "sellers" market. Sorry I can't go on reflecting on it and the implied ignorance in some of the commentary makes me puke. Why is not the reality that it was the best deal on the table -the market was telling you that at the time it was done it was an outstanding deal because the company sold one asset for more than the market cap of the company. All those people who want to run off to ASIC please do so because they deserve to waste their time on such a ridiculous action. The presumption that people will act in a commercially rational way seems to be totally lacking in a lot of the commentary-this probably to ignorance of what commercially rational is. A little tip-core element is survival.
AMAZING THAT A DEAL WAS DONE!!!CONGRATS TO DIRECTORS