If I understand correctly creditors will be issued with two new...

If I understand correctly creditors will be issued with two new shares [each valued at approximately $3.50 post consolidation] meaning that for each $1 owed creditors will be receiving $7 of equity based on the current $0.004 SP.

Could this possibly be correct? Am I missing something? Typically in these scenarios the creditors take the haircut - not the long suffering shareholders!

Oh...and by the way...John Byrne is also participating! John, can we all have the opportunity to make a seven bagger on our shareholdings?! I'm not sure why we would vote to reward the people that got us into this mess.

- RS