Ann: Significantly Oversubscribed Placement Commitments $3.2m, page-28

Hi nask23,

This is what i have been driving at for the last 6 months, use the money from Magna, pay the already agreed price to the Chinese fabricator for the phase two plant, get the thing over to India as quick as you can, get the thing working and producing as fast as you can.

If that had have been done, then it would have provided early cash flow and also the options would have had a very good chance of being converted, giving the company heaps of finds to pay-back the Magna loan and still provide working capital.

But no, management has dropped the ball and not gone down this route and this is why imo i believe they are not up to the job.
Plenty of potential for a company to operate in India like this, but you need management that can make things happen, sadly the last 6 years has shown we do not have that.

To the Johnny come lately ramp squad, do some real research and you might then take off those rose coloured glasses and see what has been really going on with this one.

Regards The Tinhopper