Ann: Costs arising in response to Non-Binding Indicative Proposal, page-16

Not really sure how this can be seen as positive. It is devastating. This isn't a take-over of a company turning over $100m per annum, 9SP is tracking towards $5m.

Would love to hear how they could spend $500k so quickly - and even if that could be justified, that means the other party has gone pretty deep into the IP, plans and finances and has found enough that it isn't interested in making *any* offer on a company with a Market Cap of $20m (just 40x what's been spent) and a SP of 1.3c

They walked away - if they thought the company was worth 1.5c a share; they would have made a conditional take-over offer (given 'their' investment in the due diligence, which would have to be well in excess of the $500k 9SP have spent).

Does not read well at all.