latest announcement

There's that $400,000 I was talking about angry.

I like the bit about "between 0.4 and 0.6 cents with an avg of 0.4151 cents".

Also appears that more debts are to be settled in the same way and more capital raising.

BRO will more than likely survive but the dilution factor is a BIG worry.

(i) Appendix 3B & Debt Reduction
The Board of BRO is pleased to advise that as per the attached Appendix 3B, the Company has negotiated the settlement of approximately $400,000 of debt by the issue of 93,806,108 shares in lieu of such debt in accordance with Resolution 7 approved at the
Annual General Meeting of the Company on 3 November 2006. The shares were issued between 0.4 to 0.6 cents and at an average of 0.4151 cents per share, which is at a premium to recent trades on the market.
The Board also wishes to advise that the recent restructure of its BroadIP subsidiary has reduced further debt and potential claims against the group of in excess of $1,000,000. The combined benefits of the restructure and debt reduction have considerably
strengthened the Group’s consolidated balance sheet which is significant for a small company such as BRO.
In the near future the Board expects to complete further debt reduction in accordance with Resolutions approved at the AGM and capital raising as foreshadowed in recent releases.