Ann: Shareholder Update, page-13

my thoughts are 3 situations occurring

1) The debt holders want to buy the IP Portfolio cheap, and this is the way they can do it

2) Management were worried that the proposal to reduce the price of the Previously issued shares from 10c to 4c would Fail at the AGM, and thus they have placed the company in Administration as a way to force everyone to accept whatever shitty funding deal is offered.

3) The product was all bullshit and lies, and that was why the head tech guys was booted from the board originally, and why they mentioned about switching to Telecoms...