Ann: Intention to Make Takeover Bid for QOL , page-21

re: Ann: OUM: Intention to Make Takeover Bid ... So what's happened . Qol accepts a $600,000 loan from Outback to give it time to explore opportunities . There is no money to pay back the loan -so it is converted to shares .Outback them mounts a takeover bid , which cost them the grand total of $600,000, possibly to gain control of the company . Now ASIC needs to examine if QOL was "trading whilst insolvent" when they accepted the loan from Outback .