Ann: Results of Entitlement Offer, page-14

Don't be surprised when they seek a share consolidation eg 20:1 or even 100:1 so they get issued shares back to a reasonable base - so they can issue some more!!!! This has happened with several mining stocks I have this year all reducing shareholder value (CAD, ESS, LOT, MQR, PSC) often changing their name to cover some tracks of ruin.

We need to have a shareholder collective group to push for action on remuneration, positions etc (unfortunately not until next AGM unless an EGM can be raised) like what occurred @ MLM which has been been quite successful (removed old BOD & installed some competent shareholders with both experience and some time to do the job rebuilding a long standing business that had become a cash cow in director fees with reasonable results to date). Don't ever think ASIC or ASX will do anything - there are hundreds of trainwrecks we have all lost serious money over the years where directors/management have benefited and somehow continue to this day.