Thanks so much for your comments Dash. I have also heard a rumor that the takeover circus (not my description) created the oppotunity for M8S to enter into administration themselves rather than the usual other way round. So our major shareholder a successful land fill operator appoints Tom Rudas to oversee the construction of a state of the art landfill operation at Gin Gin. It does not appear that Tom Rudas has any qualifications or expertise in the construction of such a facility. Because of cost overruns shareholders support a CR which was inadequate to finish the project.
The second CR was not supported by the majority of shareholders. At no time did management seek to appoint a suitability capable person or qualified consultants to oversee the construction of Gin Gin just the completely unqualified Tom Rudas.
So all the mistakes of management leave the retail shareholders with a total loss while Tom and our major shareholder and his friends walk away with everything including the $30m+ valuation on completion of Gin Gin. If this is the final outcome it does not pass the pub test.
My take is that Saithsiri must be completely embarrassed by everything and is totally committed to rectify the mess so that retail shareholders do not suffer further loss This is the only outcome that will return his credibility. Tom Rudus credibility will never return. DYOR, GLTAH.