Yep expect the worst. "Substantive" announcement my opinion is...

Yep expect the worst.

"Substantive" announcement my opinion is it will go something like this. "fas regrets to announce that funding will not be forthcoming and have been placed into liquidation by it,s creditors.we expect no funds to be available to shareholders but we the management, as employees, will recieve the total of any excess cash so don,t fret my friends your positivity has resonated with us and we will toast to your good health as we celebrate the irrevocable demise of FAS"