Usually there is a large holder that takes an interest in the shell, eg Merchant with 1PG/VPC. I don't see that here, unless you count the note holder. Does IAM have any significant holders anymore, or just Mums and Dads that have paid for the follies of a "money expert"?
If someone wanted the shell they probably wouldn't stump up $200k. Better to wait a month and buy it off administrators, imo (unless that creates too much hassle with the ASX). It's possible that this is just someone who bought the Disallowed. It happens.
Ann: Intiger Secures Funding via Convertible Notes, page-40
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