Very sad that it's come to this. I've lost quite a bit here, but...

Very sad that it's come to this. I've lost quite a bit here, but hey no investment is guaranteed and at least it's a CGT loss I can offset against other things that I've done well on.

Best wishes to the Directors, and I hope this all goes ok for them - but it looks to me like they acted prudently and went into VA in time to avoid insolvent trading claims etc. I'll be interested to read the Administrators' report, but hopefully they're up to date with ATO liabilities.

From my POV the core of this business was a great idea and I know the Directors (particularly PG) worked very hard and did everything they could to make it a success. At the end of the day though, this was a sub-scale tech startup coming out of Perth, and there's lots of examples where really good little ideas don't necessarily scale up to make good ASX-listed businesses. Hopefully someone sees the value here and can make something of it...