Agree with you bottom feeder.My additional observations to yours...

Agree with you bottom feeder.

My additional observations to yours ;

1) cash continues to accumulate, however, to deflect from same, they will take another hit on the vendor loan in the December half, a great excuse not to pay A class shareholders again, all that remains to be seen is by how much.

2) stay tuned for an offer to buy back A class shares in March at between $1.00 & $1.20, with a May settlement date ( a few more months of cash accumulation ).

I doubt CMI legal advisers will take this to Court (March), apart from Troy's team taking apart each announcement & prospectus, it is my opinion the Company has gone back on its stated undertakings & intent of the A class shares, plus add in the reason behind offer to convert from ordinary to A's. A commercial judge is going to have a field day with this one.

How the Company is allowed to state it's NTA at $1.69 per ordinary share whilst not false given the wording of the A class prospectus, is definitely misleading when to get to this figure a class of "equity" of approximately 50% of the company's total capital has to be ignored !

ASIC the toothless tiger where are you ?