Ann: Quarterly Activities and Cashflow Report , page-36

Putting a company into Administration does not mean that you have to sack the staff. The idea is that a deal is done with creditors and the company is usually recapitalised (where creditors take a haircut and shareholders get shaved to the scalp) to enable the company to trade out of its debt problems.

An alternative would be to convert the existing Magna loan to equity or some form of convertible notes.

All I'm suggesting is that Magna could leverage its position as 2nd largest creditor and largest shareholder to the detriment of other shareholders. The Board (and other shareholders) would have little choice but to accept whatever proposal is made by Magna - be it up front, or via an Administration.

If there is a "White Knight" out there who could tip say $5m into CCU at anything above 7cps .... now would be a good time.

GLTA.

PS: JD, I reckon $5m would be enough if CCU can get to 200koz /month (and maintain it) by Jan ...