Ann: Appendix 3B, page-67

Either way if the money had to come from somewhere, so it had to be repaid in some way. Conversion notes or interest or some other way. Some people could argue the SP life to date wouldn't have changed no matter what the financial arrangement. Using conversion notes to my knowledge shows that there is no debt on the MIZ books but in reality is. I don't know if it's just a fancy way of a company showing it has no debt but it's all in place now and I doubt MIZ management had much choice at the time but now business is up and running. I do understand what Matchbox is saying and as long as everyone on these forums keeps an open mind to points of interest such as Matchbox so they can be debated and see an outcome in favour of us holders. I don't see Matchbox as down ramping but bringing to light some important points that may need to be addressed by re-checking ANN's. I see some have already done that but lets just make sure Matchbox isn't on to something we have missed.
Regards