So when I read more into the update they intend to pay unsecured...

So when I read more into the update they intend to pay unsecured creditors in shares @ 1 cent to extinguish the debt. This is what Atlas did as well... So if I am a creditor at this stage I am thinking if I get 20 cent in the dollar I am doing well. So on the update a creditor is getting a 100% back in the way of shares @ 1 cent (unlike the poor shareholders) . Question.. If you are creditor and just got your money back in shares what are you going to doing when the stock is out of suspension . You are going to SELL .. 0.008 I got 80% back.. happy days .. 0.005 50% back which is still better then the 20 cent in the dollar then I am think today .. This stock has cost me close to 100k and might consider buying more on the ASX @ 1/2 cents on the ASX as thats where I think it will open when the unsecured creditors try to recoup some money .
Like I keep saying the raising is just a copy of what Atlas (AGO) did which was 4 cent with a oppy.. It got smoked when it relisted due to creditors and shareholders taking what they can get . shareprice I think is about 1.5 cents now. The only way this can work work for VXL is to escrow the unsecured creditors shares for at least a year or longer to give the share price any chance to recover .. The shareholders have to wear the pain so should the creditors .. Good Luck and DYOR and I hope I am wrong.