Ann: Repayment of Topwei Loan, page-43

Perhaps if retail would have taken up the offer for the full amount of $5mill asked for via CR, the sp would still be at least at the offer level. One can argue that since the uptake was dismal, the sweeteners then were given at much more favourable terms to non-retail - hence arguably the reason for the sell off - retail suffer whilst non-retail cashes in. However, the company had cash reserves and even with the dismal take up there should have been sufficient funds to pay out the loan - or else much to the dire of some holders - extend it - the lenders getting a 20% return, whilst a burden to the company, would have probably obliged. As it turns out, it cost the company money (or rather to holders) anyhow, with fees and charges associated with the raise.

The upcoming numbers will be telling - don't expect too much but do expect more this current Q - selling out at these levels perhaps a bad move - at least by retail. Those who waited during the last 2 years perhaps see upside, even as murky waters still flow - buyers at these levels likewise.