Ann: Appointment of Voluntary Administrators, page-26

Unfortunately OGX as per latest annual report

Current assets $1.4m
Current liabilities $21m

IMO
Administrators must protect any remaining assets for creditors

There are generally two categories of creditor – secured and unsecured:

• A secured creditor is someone who holds a security interest, such as a mortgage, in some or all of the company’s assets, to secure a debt owed by the company.
• An unsecured creditor is a creditor who does not hold a security interest in the company’s assets.

IMO

Cartesian has all assets under mortgage as a secured first mortgage creditor

In ogx's case all other creditors Magna, Directors loans and Brazil payables etc are unsecured and in event of liquidation will not recoup any monies with the balance sheet in its current form

Unfortunately like many have stated shareholders in this situation will lose it all as liabilities exceed assets by multiples.

IMO
There are no viable positive cashflows to continue as a going concern going forward and pumping more money will in will imo turn this around..
DYOR