I did not say they went bankrupt. They went broke is what I...

I did not say they went bankrupt. They went broke is what I said. They ran out of money because they never had any income. Just before they breached their lenders' conditions they obtained emergency funding from 2 shareholders of $10 mil with the condition that if the company was taken over they would get a vast number of shares. And the company was taken over with in only a couple of days by Motive Partners on the condition that they would get an even larger amount of shares. That's broke IMO but have it your way.

There is no such provision at law in Australia for a company to be bankrupted, so it is a term I would never use.