Ann: March 2016 Quarterly Activities Report and Appendix 5B-VXL.AX, page-6

That's true. Problem is that you will be left with very little but have an opportunity to recover some of what you have lost. It's just a matter of perspective. I feel that you need to take an overall view and accept that us current holders were naive and were not sufficiently skeptical of announcements or lack of announcements as to lack of production. I'm unhappy but have to take it on the nose and contemplate what my best position is from here. I feel that the RI has little chance of success (that's t acidly admitted in the latest announcement) and that a line needs to be drawn and the creditors take the pain along with us SH's. Let's wipe the slate clean and take the best option from here on (IMO that's least cost to the new company).