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The fact the NMS did not disclose the first qtr loss to the market is a contrevention of ASX listing rules as this is price sensistive. The fact that the board allowed release of this information in a public forum prior to an ASX release brings the entire corporate governance process of NMS into question, this company needs a total reset if it is to survive. That means changing out the board, if King was complicit with the lack of release then he is not the man the company needs.