Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-508

I think you should research Roger (Vladimir) Nikolaenko a bit more and that may paint a more complete picture of what transpired with IPT.

Roger's an old school mining guy that has made his fortune from providing director services and administrative support services to small cap exploration companies.

The chronology set out in that article suggests that Roger & his team controlled IPT and did a deal with AF & his team to acquire MTIC. prior to MTIC being acquired, IPT had done a number of capital raisings and issued a bunch of shares and the SP was pumped from 8c to 26c. Then after acquiring MTIC the board of IPT, which was controlled by Roger, refused to approve operating/development budgets for MTIC and the business floundered. Given that IPT retained some mining projects and Roger is a mining guy & he controlled the board, it is reasonable to assume that the refusal of the board to approve a budget for MTIC was based on Roger's desire to spend IPT's money on exploration of the mining projects they retained. A series of boardroom stoushes ensued and in the end there were no winners, except maybe Roger who likely retained control of the IPT shell and flipped a new project or 2 into it along the way.

Current situation is quite different. The board of CRO (SPX) are all on the same page and working towards the same business objectives, the $$ are being spent on the development of the business and the delivery of the objectives. I for one do not expect to have the same outcome as occurred with IPT.