comment, page-40

Hey GiddyYup -I appreciate the time you put into what was a good post. All jokes aside, I have always recognised you as one of the learned 'market' people around here and I regularly doff my cap! I just rated your post up - no that is not an oxymoron.

I don't wish to distract from MST issues, but for the record I'm a straight shooter bigtime that never takes offence at cold hard reality, and applaud when it gets discussed in a positive way. So I think we actually agree on nearly everything (I oversubscribed and have low millions too) and so it's probably not worth the time to find something contrary between us - I can only imagine my post was poorly worded, as in my mind it was definitely intended as a call to arms to hang in at this pointy end. One thing I recall I was alluding to as 'uninformed' (in my mind) was the calls for a 1:100 register consolidation at this time. Leaving aside the cashflow expense, IMHO (a) it would be silly timing 'now' in isolation with the absence of locked down deals - as it would only provide a platform for further downward spirals while we hope for those deals; and (b) even 'with' the current diluted billions of shares, a consolidation of say 1:20 is all that is required, I reckon.

Anyway I understand and agree that "there are no guarantees that the necessary deals can or will be done in time based on the mechanics of the current funding arrangements". Also I agree that "nobody is saying sell up and run - the time for that was long ago." This is where I was trying to convey a sentiment of hang in or go down with the ship stuff. Sorry if it came across wrong.

Moving on - I particularly liked your observation:

"Personally I believe that if timeframes keep dragging on like they have for whatever reason and shareholders want to retain their equity then a deal needs to be done soon to reconstruct the debt and equity, and recapitalise the company before its too late. That wouldn't be an easy thing to do and it wouldn't be painless but unless management are holding an ace up their sleeves, this appears to now be necessary".

This sort of discussion by informed people like yourself (fair dinkum) would be very handy IMHO. Again this is different to what I was trying to cover before, and it would warrant a new thread topic?

Good luck to all.