Thanks for the response kev. Yea i am in the corner of some of...

Thanks for the response kev. Yea i am in the corner of some of our previous directors. And I am very pissed off at what's happened and furious with the Chinese who I see as the key culprits here. BUT, you have to put a lot of this in context. And not to be rude mate, but I've been a shareholder of this company a heck of a lot longer than yourself. I've seen a lot, heard a lot, and had a lot of interactions with management and employees. So sorry if there is some history there that I am speaking from that you haven't seen. I can also confidently say judging by your posts that you've never run a company? You've never been involved in the financial world... capital raising, share holder issues and international joint ventures. And that's fine, you're an investor and that's all good this isn't a dig. I'm simply saying there is a lot of context you're not putting in. Now I am happy to stand behind my comments and wait for an investigation by the AFP and ASIC (and yes mate, mark my words this will be across ASIC's desk. I can also say from prior experience that it won't be high on their list compared to other things but it will be on their radar, so be patient in that regard). If I'm wrong about the Aussie team I will be the first to admit it to you.

I will reiterate this point one last time, phoslock tried many joint ventures in China for a decade plus that I've been invested. None were as well connected and well financed as the relationship with Zhang and BHZQ. Of course the directors had to give this a go. Share holders would have gone nuts if they didn't. I went to those original AGM's where the Chinese came to Sydney. Met them. Spoke to them. Zhang had a house here. He was well financed and certainly connected in China. Nothing screamed FRAUD, nothing screamed suspicious. RS and LF had spent years funding the company and working extremely hard at well below market rates. Again, nothing screamed suspicious there. I met Nigel and Andrew and Dr Sarah and they all seemed like down to earth hard working Australians. With a relationship in China comes certain cultural norms that we might not agree with. Back handers to gov officials, death payments which looks like Zhang charged a little extra and pocketed some for himself. This, to me, is a cost of doing business there. The fraudulent receipts is greed and arrogance from our Chinese partners. Unsurprising in a sense because we're hardly the first to have this happen to. So yes, you mention @chand article (Thanks for posting that Chand!). My thoughts on the article tie into that last point. The fact that it is unsurprising should have meant that we had a lot more scrutiny and devil's advocate thought when reviewing the receipt and books. As Joe states in the Article this really came down to two main parties. KPMG and BRENDA. How Brenda's name keeps flying under the radar I do not know. RS can't have been expected to do everything, this is why we hire TOP TIER accounting firms and have a bloody AO or whatever she is on the board. To review the Audits and conduct risk. She negligently FAILED. Failed hard at this. And these are exactly the people Mr Aston targets in his article. No mention of RS as far as I could see.

Aston sums it up perfectly here "We don’t suggest that Shanahan had any knowledge of the alleged fraud occurring under her nose, but it is nevertheless ridiculous that in January she was named an Officer of the Order of Australia for her “distinguished service” to, among other things, “corporate governance”. Distinguished service is one way of putting it." We had her there for this exact reason. What the heck was she doing otherwise?

So that's my rant kev. that's how I see it. Happy to discuss with you but not going to put up with some of the crazy dribble and repetitive comments that are passed around like a broken record.