do we have any hope?, page-14

Mak

Your terminology is a little mixed up. It is voluntary administration. Company liquidation comes afterwards but we know what you mean.

Agree though with your analysis. Surprised that Mal has the audacity to blame others for the mess and then to rub salt into the wounds pretend to be really concerned with other shareholders and see if he can raise more money! Like Ninie mentioned, the scenario was simple for a back door listing but he chose to ignore it and use a different approach viz. tell his directors to do nothing and let the company die on its own accord. If he was sincere, he would have honoured the balance of his $1.5m pledge, implement a new business plan and thus given the company time to trade out of trouble ... but no ... it was much cheaper to simply acquire the IP by loaning $500k as security over them and buy a few ahares to appease the market.

Perhaps this is what Bantry was trying to tell us when he was told to "be careful what you wish for". Scroll down Mal's blog and note how before the management spill Mal demanded transparency from directors ... was he ever transparent himself or the directors he hand-picked?? ... beware the wolf in sheep's clothing.

... and Lady M was right (but failed to intepret her intuition in the right manner) when she said "Mal always has a back up plan" ... yes a back-up plan to serve his own interests.

Incidentally, I note that MVSS was a top 100 growth company (based on 2006/07 results) ranked 18 (down from 11 in previous year) and was not even listed in the following year ... so I really question the strength of his company in any case. The little credibility he had is basically gone. His approach of duping people shall pervade the market and probably affect his own company ... but as I said before ... I was mocked before by saying this but this is what happens when you make a Kyle Sandilands-like pledge.