Hi,
In the corporate world, every announcement is sugar coated and have not seen such a blunt statement that credit providers have walked away. It indicates either
A) The company is doomed and there is no hope now or
B) The company and credit providers cant agree to an arrangement
The a) does not seem plausible at this stage unless there is fraud and half truths have been told. The company still has the option to go to shareholders for more money - this option has not been explored as yet.
b) With positive news from MR solutions and maybe some news from Carl Zeiss, going to shareholders maybe now the preferred option as this may provide better results. The new director has almost 8% of the company and also loaned $300K recently.
Ann: Suspension from Official Quotation, page-18
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