FMS - "The Foundation Customer", page-50

XAX - if that was to be the outcome.... The only trains that the current FMS directors would see would be the ones drawn on the walls of a prison cell....

The directors are already walking a fine line and in my personal view with regard to the moral and ethical duties of directors under the Corporations law.
I say this with no fear of being moderated or threatened, as the Takeover Panel effectively drew the same conclusion in their investigations. "Coerce" being a pretty strong word to describe their proposed delisting strategy....

If they are unable to establish a suitable strategy and path to production and illustrate this to shareholders in the next couple of weeks, then McAdam needs to be removed from his pay packet and the business put into care and maintenance to save costs..... but that won't happen
The directors cannot simply say "we didn't do anything much last quarter and aren't doing much next quarter but its still going to cost $500k" just to issue quarterly reports whinging about minority shareholders.

Reread the last quarterly - NEVER IN 30 YEARS have I EVER read a quarterly report like that.
I am still in disbelief quite frankly that the board of a public company would lodge something like that in a public announcement to the ASX...