how much could we raise in a new spp?, page-21

Refer to Gdavid73 following post of events explaining where we are at today.

Post #3914688, 3/4/09

EXTRACT
Cujo was insinuating that I lied when I informed that we had an overwhelming support. We had received multiples of 5% in support. I repeat we received more than multiples of 5% support in January 2009.

On 05-02-09 (please note this date), our emissary who knew John Ward met him in Sydney for an informal meeting to request a peaceful transformation of control of our company to our chosen Executive chairman.

The deal on the table.was: John Ward will retain his position as director and Peter Crosby will retain the CEO obviously for the reasons outlined in my previous posts titled “Why I do love Peter Crosby”.

The answer we got was that the Notice of Resolutions signed by the shareholders will be tied up in legal wrangles and by the time they were forced to call the EGM they would have called in the Administrators anyway.

EXTRACT
Anyway after that report from the meeting and subsequent events, we had to change our strategy hurriedly. Accordingly, we had to get the lawyers prepare a legal Notice of Intent that the Ventracor cannot reject. That took time and we sent the new documents to a few of the shareholders to get the 5% and submit to the company to call the EGM. The intention was to contact rest of the shareholders individually after the Notice was served. That was achieved in three days. When we were ready to serve the Notice of Intent, true to their word, the administrators were called.

BTW Belgium re-imbursement approval was had in Oct '08.