Ann: Employment of CEO and CFO Terminated, page-32

@Shortblack

The company made a loss for the half-year of 5.5mln. This included windup provision of 1.4mln, which the company said included redundancies etc. There were another 2mln in that which was spent on professional fees.

They had cash of 9mln and subsequently received another 5mln.

Based on the above numbers neither the court nor directors can tip the company into administration.

There are only one option - Voluntary liquidation (which I covered in my previous posts).

If shareholders resist voluntary liquidation then the directors may spend all what's left on further professional fees and then there can be a case for administration.

There is simply no case for administration right now, no matter what you want to dream.