Cannot be right - Riva are lining up to buy 79 million at 4.3 cents as are a number of other "committed" (but un-named parties and they have entered into "binding" agreements - so don't be so skeptical or pessimistic.
I think Riva are at the bank now sending the money - but there does appear to be some confusion whether the amount was dollars or rupees - but I'm sure it will get sorted
Ann: Results of Meeting, page-28
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