Ann: Proposed issue of securities - CLZ, page-8

Logically , exchanging debt for shares may indicate the company can no longer pay 36 per cent interest.
Better to convert the loan to shares and join the 400 million sell cue , and take a punt on getting out of the shares, which could take years.

That is if the company doesn't drop another consolidation .
It sure ain't looking too promising for the 15 million from AuResources.

The 165k they claim to have received from Au would only pay Dean's wages for 4 months. But then how would they pay the other directors salaries.
It is truely a mystery how this company functions when it doesn't produce gold.