What we need is substantiation. This is the problem with the whole mess. What does anybody believe? The accounts are inconsistent, there are unusual and possibly illegal transactions going on, explanations are inconsistent and who do you believe. Even if ASIC acted, what would they act on? We would not believe what the current and ex-directors said.
It appears that the current directors need to be removed very quickly and a white knight comes in to keep the company going. If it comes down to an expensive and drawn out legal fight, or the company goes into administration, we all lose, very significantly in my case.
My guess is that QVT has to be brought back to the table if it has actually gone away.
R
TZL Price at posting:
97.0¢ Sentiment: Hold Disclosure: Held
