Is this announcement a Pisstake. A completely insolvent business...

Is this announcement a Pisstake.

A completely insolvent business wants to raise cash at 1c to pay approx $12 million in debt and have approx $6 million in the bank.

Good luck with that one.

You would have to be a complete fool to hand over 1c in this raising.

Unfortunately for shareholders VXL is doomed and administration is the next step once this fails.

Management should be ashamed of themselves to let it progress so far, and to have a suspension for 3 months and come up with this garbage?

I feel for shareholders on this one.

Incompetence.

Cheers

Matt