auditor egm, page-8

Its become clear the only reason TTT and LaJolla haven't trashed the share price yet is because LaJolla have not been issued with any shares. TTT have only been issued a handful.
The fact that we are voting on share placements made 12 months ago, and issuing options to advisors that have been owed options for 12 months, demonstrates how out of control this company is.


What about that Appendix 3B on 1/3/2011
LaJolla are converting notes in chunks of $300K / month
TTT are converting lots of $250K / fortnight
But on 1/3/2011 $200K was converted..
Whats that all about.
Is this the bank?
I suspect that it is.
$5M divided by 25 Fortnights = $200K per fortnight.
Its a match!

I hope you guys have large pockets, because it looks to me that you will need to invest $1.2M per month just to soak up the shares issued by the convertable notes.

These Convertable Note arrangements nearly always trash the share price, and Marion have THREE of them in place simultaneously, its a recipe for a disasterous share price.