To write down almost 100% of the proceeds expected to come from...

To write down almost 100% of the proceeds expected to come from Sargon would not of occurred easily.

There must be real concern the list of creditors is more than the value of the assets to take that approach

Maybe the $3.6m is the number they expect to receive from the sale of the Madison assets with the balance blue sky if it ever arrives.

Cant see how they can do a buy back until the profit rises given the soft balance sheet