annual report out

Overall the report seemed optomistic. I sold though. It's gone too hard too fast. Anyone know what the banks will do re breached covenants?

Bank Facilities

The Group’s loan facilities of $65.5 million with its major lender have been drawn to
$47.8 million as at 30 June 2009. These loans have been classified as current liabilities as the Group will have
breached three loan covenants with the bank as at 30 June 2009 upon finalisation of the 2009 Financial Report. The
bank has granted a waiver to the breached loan covenants and is currently in negotiations in the normal course of
business of negotiating the bank facilities and covenants which are due for review by November 2009.