Ann: Continued Funding Support, page-18

As a lender they might have access to the companies cashflow forecasts but history has shown that such forecasts made for this asset by every management team that has run it have been woefully optimistic. I dont see how they could gain any comfort from MRV's forecasts. Nothing they have said has come to pass, EVER

At some point the FS Board will come to the conclusion that further funding is not prudent and their exposure limit has been met, particularly given a chunk of this (in fact maybe all of it, I haven't gone through all the announcements) IS UNSECURED - and they arent even the only creditor (Feitelson et al has been funding too ~$2.5m)
FS' $8.5m exposure could be nudging about 2% (was 1% at June 30) of the total FS Australian Equity portfolio. You look at the composition of that portfolio and this kind of weighting for this kind of stock with, frankly, B grade management team IS A CLEAR OUTLIER.
Its hard to imagine that FS have not called the MRV team into their boardroom and said "this about it fellas, one more fark up and we will have to put a red pen through it"
Thin ice indeed...