Ann: Rights Issue Closure and Shortfall , page-20

yes mickey i see your point and dont disagree if price falls further and exchange rate stays up (but niether seem likely to me, at least not at the same time). it is wrong to say tfa is not impressed because you have no basis for that statement. all we know is that they have just put over $1M cold hard cash on the table. do you think they just want to pay directors? of course not. so they think there is a future for fwl and noone puts down $1M just on a whim. get real.