Ann: Update on farm operations and financing activities, page-10

Thanks for correcting me - I was referring to NA or equity.. which makes the picture even worse... NA was 55m at the end of 1H.. then add another $15-20m in debt and write downs of >$10m in 2H alone.. Net Assets will look pretty skinny right now.. $25-30m or lower as I'm not assuming underlying losses in 2H either (affects equity)... so debt would be about 2x equity.. NTA won't be much different as there is not much goodwill/intangibles left.. what NTA that implies per share is pretty sad. And that's pre raising.

Hope you are correct refer the board - for the sake of investors. How the equity raising is structured and how gets VIP treatment will give you the answer to that question. If I were an investors I would make clear to the Board that existing investors should have priority over the friends of the advisors who have no skin in the game. Hope they do the right thing for legacy holders.