Ann: Board Roles and Structure & Final Interest Disclosure, page-15

You misrepresent me. My view is that either administration or a wipeout capital raise are the likely outcomes with the next shareholders being the ones who will enjoy the upside.

Further that the Con notes issued to C2 (ie management) has created a conflict such that management may indeed achieve a better economic outcome by forcing an administration.... plus a whole lotta other views around excessive fixed costs, silly decisions making (eg US IPO folly) as well as governance concerns that are ongoing and therefore become an impediment to a satisfactory funding outcome.

All my opinion