approach to asx and asic, page-2

Go to Lawlers Partners website, click on Our Service, then Business Recovery and Insolvency then Creditor reports then look at OCT 26 2011 report to creditors. Its a 15.60 MB file. Its like a novel.
Director resigns just before V.Admin called.He had argued appropriateness of going into VA.
$1.5 million sent to Ethan Celebes in Indonesia , now dissolved with zero recoverable . When were shareholders told about this ????
Amount of 1.5m sent to Ethan Celebes and amount of 3 million to Allegra not declared on RATA by directors .(We coulda bought a hotel in Bali and stayed there free instead for that money)
3 million to Allegra, with zero recoverable by the directors own admission on the RATA ,laptop hard drive with expenses in Zambia wiped .
Allegra supossedly had a deficiency of minus 825k July 2011 according to the directors but even the administrators have their doubts as to the accurracy of this claim. They would consider more research into it but only in a liquidation scenario.
4 years of losses, creditor and director charges to Ethan under investigation or insufficient documentation to justify charge to Ethan. Remember this was a company that had to borrow money or capital raise to survive with, with too many passengers.

Eagle Eye will happily send you paperwork to show Ken is a shareholder of Eagle eye which is in the Zambian courts against Allegra with contignent claims. Make your own mind up whether the paperwork is legitimate or not.

Amongst the worst looking proposal for a restructure to get up after the creditors use a proxy to vote Pager in. Why???


ALSO..

Ken and Julie own 6 million unlisted ETH options with an expiry price of 20 cents (exp 18th OCT 2012). What happens there??

There now is plenty for ASIC to look into, took a spoonfed report from the V Admin but now is the time folks . Send them what you know .