drdc (canada) selects mst (mtsxy) technology, page-40

Schiffhead,

"two years ago the major note holders agreed to extend by 2 years. To date what has mst delivered? no sales, no manufacturing and no revenue. Why extend again based on these results?"

What exactly do you think notes holders are going to do other than extend ? Its not like there is $20mil in cash sitting around in the vault for then to demand as payment. Sending the company into administration is the last thing that notes holders would want as they would get virtually nothing and if they ever did get anything it would take forever.

I'm struggling to understand what you mean by this statement.