proposal, page-17

A breach of covenants does not spell the end.

The board does consist with members that are familiar with salvage operations. Take Tony Clarke. He has worked in a financial tunaround role for Centro their Chief Financial Officer and Chief Executive of the Australian operations.

I doubt the company will be recommending this 9 cent sale and hybrid sell off. They will be best to put all offers on the table to shareholders and determine if its best we flog part of the buisiness and salavage a smaller profitable component.

Time will tell and we may all be put out of our misery. I for one will learn from this disaster!