Hi RattyThanks for the compliment - yeah - with just shy of 100M...

Hi Ratty

Thanks for the compliment - yeah - with just shy of 100M shares and a decade long involvement I certainly have the shareholders and MST interest at heart. A bunch of others do to. But you are doing OK with your 10M shares - don't forget the average shareholding is about 900 thousand.

Since I posted 23 August (see above or below) I have spoken with Dianne Pinder (I believe she is a fellow shareholder) and am very satisfied she is working on a Deed of Company Arrangement that includes carrying the current shareholder base forward. However, concerned shareholder's CANNOT just sit back and be lazy while assuming 'Santa Clause' is somehow going to keep them in the game while they personally do something else and probably twiddle their thumbs. This is the real world - we DO NOT live in the 'age of entitlement' here! Sufficient genuine shareholders have to get off their backside and contact Dianne with support for her proposal.

Like I said before (see LTI's post) it seems there are two different Deeds of Company Arrangement likely to be on the table at Thursday's Creditors meeting. Understand there is a formal process here, and shareholders do not get a vote (and won't be there) at the Creditors Meeting. Other Mickey Mouse ideas you heard down the pub do NOT apply. The Voluntary Administrator is basically required to sort this on the day - and is bound to run with whatever will give the Creditors the best deal. He has limited options:

1. He says the Company is fine now, and returns control to the previous Board to keep trading. I'm confident this won't happen.
2. He considers any formal Deed of Company Arrangements on the table. Again it looks like there may be two competing proposals (a) the Pinder proposal (which includes all security holders including shareholders, and jobs for the Company as an Aust business); and the ASOF proposal (which I understand includes shutting the Company down with zero for the shareholders and no jobs).
3. He goes for liquidation (normally expect zero for shareholders who are at the bottom of the food chain).

The details are obviously much more extensive - and there are technical reasons why certain options may be adopted. Again, in the case of shareholders, we have no creditor rights, so have to hope that what is really seen to be in the best interest of creditors also happens to contain a future for pesky shareholders. The Pinder proposal does that, if it gets up. But we have to focus up here - it is early Sunday night at the moment, and the Creditors Meeting is Thursday morning. We have three (3) business days to support the Pinder proposal now. Thinking KISS - if the Pinder proposal doesn't getup Thursday - the shareholders are OUT of the game - with zero return on their investment, which for many of us has been a decade. The pub talk I have seen here along the lines of 'oh well - I can get a tax loss' is only potentially true - you need an investment gain (not mere income tax) to offset that etc. More to the point - talk that a tax loss is OK is total bullsheesh compared to the potential return to any shareholder if this Company can continue to trade and becomes product sales focussed.

Fair dinkum, I can't understand why so many people are legends in their own teacup, thinking of a thousand reasons why they personally are not going to help, while incredibly expecting 'someone else' to do something! That is their call - but thankfully I'm not one of them, and I hope there are a bunch of others that can instead think like me (and a few others I know) that are currently trying to lend support.

If you want my honest opinion - the big concern is that there is only 3 days of time left to assemble a viable Deed for the Creditor's Meeting WHICH IS THURSDAY MORNING 30 AUG. Ratty, talk of other people on a new Board is all well and good, but right now ....... WE HAVE TO GET PAST THURSDAY FIRST, or we won't have to worry about a Board at all. Like I said before - I'm in for support. We need many more genuine people to offer support if they can. If you would like to be part of the solution, please contact Dianne on [email protected] ASAP and have a yarn. Thanks guys. DYOR, and please lift a finger. Good luck.