In a paragraph from the announcement they say they have been talking to the creditors, load of crap they just stopped paying the bills and closed shop and diverted calls, so you cant get answers to when and if you will get paid.
Also previously there has been reports they needed to raise 40mil to pay off debt
The Paragraph
Since the announcement of the Rights Issue, significant negotiations have occurred with both the secured creditors and unsecured creditors.
The secured creditor has confirmed that the $6.3milltion debt will repay the secured debt facility.
Considerable progress has been achieved with unsecured creditors, with the majority of unsecured creditors (by value) providing the company with "in principal" support for the rights issue. In particular, this provides for the issue of shares to unsecured creditors at 1 cents per share to the extent they are not fully repaid from the proceeds of the Rights Issue.
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