"I would have though there shouldnt be any problem with the debt...

"I would have though there shouldnt be any problem with the debt conversion but you never know."

At some point six months ago, that would have been very true given Platinum had agreed to negotiate such an outcome.

Unfortunately, since then, the landscape has completely changed due to the not-so-little-problem that Platinum now faces: charges of Fraud from the US legal system; the arrest of management; and the appointment of Liquidators.

Going off what Cokal has said in its latest Qtrly Cash Flow statement, in 41 working days time (end march) they'll only have about US$40k left in the kitty . For context - 28 workings days has already passed since Cokal acknowledged to the ASX of the indictments taken out against Platinum and the impact of such on the negotiations.

Time does indeed fly so if you think that the last 28 working days went fast (during which nothing has changed to our knowledge), the 41 left between now and end March is going to need to produce some material outcomes, otherwise Cokal will be left with the proverbial oily rag. So all, shareholders better hope that Bart Schwartz (Platinum liquidator) get things sorted out quickly; or that working capital is raised (dilution?) otherwsie the potential VA that you have raised might be the next little asteroid to hurtle towards Planet Cokal.

Coop