Assuming there is value in the company's assets and shareholders are willing to tip more cash in (which I know many wouldn't but stick with me here)
...
Shouldn't the board try to fix the cashflow issue of 37mill by 2nd Feb and avoid a default and have the company taken out of administration by something along the lines of a convertible note ranking highest in priority in the event of windup to existing shareholders at 9c per note assuming 100% takeup.
As the shareholders are the ones who would be likely to lose the most not sure why noone has raised this or why the board tried something before putting the company into administration and incurring high consulting costs by the Administrators.
Seems a small % of each persons' holdings to potentially save the bigger piece of the pie...
Someone is going to make a lot of money out of a firesale of the assets and shareholders should be surely given the option to get involved in this...
QIN Price at posting:
29.5¢ Sentiment: Hold Disclosure: Held
