Ann: Administrators Appointed, page-3

A wretched business for shareholders. It is difficult to know, with companies like this, whether they are corrupt, dodgey, or so hopelessly incompetent that they could not organise chook raffle in a pub.

I don't know enough about CQA to hazard a guess. An answer might be related to the reason why they spent $500,000 on a due diligence on Priority One. At first CQA accepted the DD as favourable, then suddenly dismissed Priority One. Who got the half a million? Maybe the administrators will throw light on that aspect of CQA's accounts.