Ann: Notice of Extraordinary General Meeting/Proxy Form, page-7

...or it tells you AJQ has no cash, can't generate cash from operations, can't raise cash, has pushed the maturity of the Tribeca facility a number of times and now tribeca are reluctantly taking cash equivalent in shares (which they may try and dump) PLUS 45m options because it's either that or AJQ gets put into administration.

I may or may not be right, but I think there's a reasonable chance I am. Still believe there is a reasonable chance this company goes into administration in the next 12 months.