continuous disclosure & agm

If you are able to attend the AGM, I have a few questions the board should answer. It is not good enough for a public company that any email address of the company bounce & the company secretary does not acknowledge let alone answer reasonable correspondence ( even by Australia Post )

1) what is the current status with CMI Industrial ?
- April 2011 = CMI Industrial pursuing strategy to raise funds for repayment
- October 17 2011 = Our board in discussion considering options.
- November 9 = Who knows ?

2) what are the options the board is considering & what is the time frame for a decision ?
- at what stage are we today given initial default April 2011 ? Too slow !!

3) are interest payments currently up to date ? ( that at least is some justification for withholding recovery action ) & are payments monthly or quarterly ?

4) is CMI Industrial profitable after all expenses or trading at a loss ?

5) NAB. when does the CMI Industrial Loan mature & what is NAB's current position ?

6) what is our profit forecast for 6 months December 2011 ?

As an old financier, I can understand the Board's reluctance to call up the loan, all that achieves is an invitation for NAB to cross default its facilities & we all know what short sighted bastards bankers can be.

Some quick maths.
$17mio @ 8% ?? $1.36mio pa. ($ 113,333 per month)
Nice Income Stream for CMI.

Perhaps in the current financial environment the best option for the board to consider is withholding action, subject to monthly principal reductions of say $25,000+ per month, with a proviso that Industrial produce six(6) monthly full financial accounts &/or quarterly management accounts, CMI reserves it rights to review the situation at its discretion. CMI is not restricted in the event of a sale or winding up of the company, and shareholders interests are protected by principal reductions & continued interest income stream. . A further proviso for withholding recovery action is that the business is put up for sale in an orderly fashion ( willing buyer willing seller ) rather than forced sale, CMI has control & retains some hope of partial or full recovery of monies owed.