Ann: Trading Update, page-11

I didn't think thier cash position would be that bad it's basically give the company away on the cheap or go in administration there's no two ways about it.

I don't see any positives here tbh and I don't think it will ever trade again in its presence form.

What about the 33mill put holder? They are already in default now as can't pay.

They will end up having to raise 100mill at say 15c which will bring the share register upto 1billion on issue.

What options do they have.

They aren't even talking about a T/O now it's now changed to a recapitalisation which I've never seen one before which benefits existing holders.

AGO anyone?