this isnt looking good, page-19

Has anyone called Modena and been able to get a reply? Been trying but no one home! I want to ask them about the loans that are within the company and how they intend to handle them given that they are able to be called up quite readily I believe. It is this type of debt instrument that concerns me with this company given that they have little cash reserves available.

Have heard that some of the creditors are instigating a 'wind up 'class action regarding non-payment so that is a further problem that may be coming. However the major issue that I believe currently faces them is that the person who held the operators licence in the US has now left and given the regulations this apparently automatically brings up a required immediate payment of the P&A liability which is absolutely enormous. Yes, Modena can appoint a new operator however they will have to go through an approval process which won't happen overnight.

Hence I would like to ask these questions but never can get in touch with anyone.