not dead yet

I admit to being unaware of the dire financial position myself. Vic kept it to himself, but if the ATO hadn't brought things to a head by demanding payment of about $500k of unpaid Payroll tax then this would not have happened. Ridiculous.
There has been interest by at least two groups from what I know in putting money in to pay out creditors and get MSC listed again. They will have orders once the company is back on the boards and it appears that there is a good chance that will happen. I have spoken to Vic who is in China ATM trying to raise funds and it could happen anytime now. He is talking to a number of people and will be back when he has a result. In the meantime the administrators are talking to a few groups and have had an offer but are holding out for a better one at this stage. I understand they have 6 weeks they can hold out.
I know I am an eternal optimist but I think MSC will be back as their product really is good and there are potentially a number of parties making offers (1 so far). It maybe just a case of how much of the company we will have to share with the new investors.