Maybe you have been having a little too much festive spirit catalogue.
There is no mention of a stat demand in the Notice of Meeting for the spill meeting, but you are welcome to copy and post and provide proof of what you say is correct.
The big glaring admission for mine is that the chairman, Mr Duckett is totally unaware or has no understanding of what `technical insolvency` is.
He states in the Notice of Meeting that `accusations` have been made about what the companies own financials show, that is it is in `technical insolvency`.
The companies Debts are higher than the companies assets. It also did not have any cash of note to pay its bills.
Creditors can place the company into receivership or administration at any time in this situation.
To say its not the case is the stuff of a primary school yard.
The current board and also the board that you were a part of have seen the destruction of millions of dollars of shareholder funds.
The company is now in a situation and has been for some six months, where any number of creditors, could pull the pin.
All shareholders should read the EGM notice, Facts, Fiction, PDF hanging by a thread, because that is the exact position the company is in.
It cannot pay its debts, according to the last accounts released by the company.
Why not find out why the September 2018 quarterly hasn`t been released and get back to us.
Is it because the company is now trading while insolvent??
That is the only conclusion given that it was technically insolvent at 30 June 2018
Just on 4 months left before the company is automatically delisted from the ASX...
