Ann: Update on deed of company arrangement proposals, page-34

At least Rogers entitlement of shares is at 2 for the dollar and Gandel at 1 for the dollar. At least the administrators have reduced their creditors claim as they may be creditors but they are also responsible for the failure of the company.

Also both have lost out big time as their holdings or family holdings are reduced. The market capitalisation for existing shareholders is $208,887 from $9,399,980

They hope to raise $8.5 m in new capital...