capital raising, page-18

Agree dilution would not have mattered, wouldnt have mattered at what price they were done at, as long as it was pro rata and renouncable, long term it doesnt really matter if you have 3bil share on issue or 5bil or 10bil, the main problem we had was the debt, If we managed to clear that and were no longer hemeoraging cashflow, we would have been alive, intact and ready to fight another day.

It didnt happen,

The board had three choises being

Dilution, decapatation or death,

The board chose death,

Death by Chinese burns, from a pair of golden handcuffs,

The banks may choose death, but it wont be from that...


cheers grant