Not prepared to get into a slinging match with you - you obviously have your mind set - hence my rationale leaving most of your comments unaddressed. Will only speak to the below point where you say:
Shareholders can and have always been able to save the company, just need to come up with the money to satisfy creditors.
You are correct - we just need to come up with the money to cover creditors - but when shareholders are excluded from the process it presents huge problems doing that. I gather you have done such a thing in the past since you speak with such authority. If so, we would be appreciative of any advice as to how you got around the exclusion issues - either here or in private. We always welcome constructive well considered input from others.
We have found the practicalities of doing so onerous in the extreme - not that we havn't made substantial inroads - but it has been very difficult and therefore time consuming - simply because we have no "right" to access the info needed to identify exactly what went wrong - which one would need to cover in any prospectus seeking to raise funds from shareholders to pay out creditors.
Likewise getting access to the range of docs required to put a prospectus together has been extremely difficult. I wont go as far as to say its been impossible - but enormously difficult. The sole reason for that is because we have found the corporate laws are not set up to facilitate a shareholder led rescue - so if you know otherwise we are all ears
CMR Price at posting:
15.0¢ Sentiment: Hold Disclosure: Held
