They have rigged it so that the key players now own more than...

They have rigged it so that the key players now own more than 50% of the shares. This means they can do as they please on all issues except the rem report. Even on the rem report, apathy in general probably means that the 25% strike rate may not be obtainable, and probably not the 50% spill rate required after any second strike. With a 50%+ controlling vote, they can give their mates a 2c rate to convert their Notes rather than the 8c at which the Notes were issued, so it is a foregone conclusion that this is what they will do at the next AGM. What has happened is that the controlling entities have sunk more of their own money into the business, so they own a majority of it percentage-wise. However, you have to ask yourself what it is they actually own - and that's nothing except some inventory and a gamble on the future. So the question of whether they will still be around in three years is really pertinent. I would say no.