Ann: BluGlass Business Update, page-22

Bucket if you want to send BLG bankrupt your suggestions would the ones to follow. Whatever you may think about the management is up to you but please do not uses unsubstantiated allegation. If you want to make an allegation then show us the evidence with logical deductions from evidence. I understand why you are feeling sore; I'm not that happy myself and have lost a lot more than you; which I understand is about $30k. When you back a company such as BLG you have to accept the risk as well as hope for the eventual reward - it's like backing the outsider in a horse race.

The problem BLG is facing now is potential insolvency; the sure way to realize that is to deprive them of cash. At this stage you have to be pragmatic which is back them or get out - I think you are best to get out. The assets of the company are it's expertise and its know how which is embodied in it's patents. If the company is to be of value, it's patents are its primary asset along with the people who understand and can advance that technology and equipment and clean rooms they have; these fixed assets were valued at A$7,814,378 on 31/12/2019 at .02c the equity value of the company is A$8,368,541 which means that it's patents are only valued at A$554,163 which is absurdly low. BLG's expertise is vital to it's survival and KMP's (whatever you may think of them) embody that expertise. I agree that they have been over confident and possibly naive; it's a common trait in bright people, but to just kick them out leaves you without your primary asset which is know how; without them the company is sure to hit the dust. What is needed is a BoD which ensures that the company takes a prudent and pragmatic approach and in this respect trusting Lumiled (and other collaborators) to come to a "fair' deal is too trusting, however to "throw the baby out with the bath water" would help no one. The result would be Voluntary Administration and re-employment of the BLG technical staff by the successful purchaser of the DOCA
(Document of Company Arrangement). Existing SH's would receive approximately 10% of the equity and be diluted to oblivion; be careful of what you want. DYOR