possible default on debt, page-28

i just cant see how there is any immediate problem that they wont be able to resolve in the coming months.

Im not saying they dont have issues to address and the SP has been smashed down from 10c to 1.5c accordingly.

However, they are a long way from terminal velocity and at these prices, we are almost at cash backing levels !

Shareholder equity as at 30 june was around 4.4c per share, so even if the company was liquidated tomorrow, shareholders would at least get back around 3c per share (after paying back the debt).

Id be ok with that return from current levels (not that a liquidation is on the cards).