The recapitalization plan does not sound good at all... probably going to be massive dilution for existing holders and it would imply they simply don't make anything by selling their products at the moment based on the inventory they had, and that no headway has been made toward paying down debt.
I'd rather vote no to such a plan, see the company go under and hopefully the directors and situation be investigated by ASIC at some point.
This isn't a business that simply went bad for a period, it was a business that was always bad and was just presented differently.
Ann: Completion of Novation and Timing Update, page-3
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