Ann: iM3NY Credit Facility, page-56

Yes they can - and if people take time to read the announcement and the audited accounts, that is exactly where MNS now sits.

Assuming they are unsuccessful in a refi or a renegotiation of the iM3NY debt facility (and that is probably the most likely outcome), then the one good thing that MNS did achieve last year when this debt facility was put in place was they ringfenced iM3NY from MNS as MNS no longer was a guarantor for the facility.

Interestingly at the time of that debt facility being put in place, it became apparent that whilst MNS was the major shareholder of iM3NY, C4V was calling the shots on the whole business and for some reason decided to pony up with mortgaging its IP plus guaranteeing the facility.

Hence, it is most likely going to play out as iM3NY plus C4V as guarantor being pursued by the lender and MNS will then write off its investments in those two entities. It still retains AAM and Nachu, although I am unsure from announcements as to whether MNS has legally binding agreements in place in relation to the graphite treatment process that it proposes to use for the AAM.

So MNS has likely written off a ton of shareholder dollars pursuing its battery and has enormous work ahead to try and restore value via progressing Nachu and AAM, but at this stage on all available information, it is only involved in the iM3NY issue as a shareholder.