Ann: Notice of General Meeting/Proxy Form, page-65

Any look at the accounts, one can see the debt position, except for their claim that they have access to 18 million from IDA, but they might need to go to court to enforce that. If in reality, they didn't have that, then they look like they would be broke, and certainly wouldn't have the money to do the works they claim to want to do. I mean how much short-term/long-term debt can a company carry & for how long? If they could get all or part of the 18 million, then they could play on. Also, they have to once again convince loan providers to roll over the debts and convert to equity, but there is very little trade on the market, so there is not much chance they would be interested. But i don't know if the loans could be converted to the post-consolidation shares capital. which could provide an incentive, especially if they are actually broke.
Anyway, the situation doesn't look good, given how much debt they are carrying at 33 percent per annum. Just my opinion of the situation, DYOR