from todays melbourne herald sun, page-71

questions from someone with my attempt at answers

1) I don't think asset values are calculated as profit untill they are sold (talking from a small business perspective - can someone clarify that who knows?)
ASSET REVALUATIONS GO THROUGH THE P&L, BUT DO NOT CONSTITUTE CASH TO REPAY DEBT OR INTEREST.
2) IF they sell assests, and what they get should be covered in an announcment soon. (fingers crossed)
YES. NOT SURE OF WHAT THE TIMING IS
3) I heard there was a clause in the agreement from Fortress when they extended it. I don't know why it would be assumed they would have the same clause in other debts.
ALMOST ALL AGREEMENTS SAY TWO THINGS, BEING (i) THAT A DEFAULT UNDER ANOTHER FACILITY IS A DEFAULT UNDER THSI FACILITY, AND (ii) THAT IF THE COMPNAY IS UNABLE TO MEET ITS OBLIGATIONS GREATER THAN A THRESHOLD AMOUNT AS AND WHEN THEY FALL DUE, IT IS A DEFAULT
4) I think Michael King has alot on the line himself, including his own shares (he is the 3rd biggest shareholder) in the company which he founded. I'd be more worried if took the payout for a quick buck which he was intitled for.
NOTICE THAT NO SUBSTANTIAL SHAREHOLDERS BOTICES HAVE GNE THRU, IN SPITE OF ALL THE STUFF IN PAPER ABOUT THE ENTITIES SELLING THEIR SHARES. I STILL HAVE FIRM VIEW THAT NOT TAKING WHAT YOU ARE ENTITLED TO IS INTERESTING. T GHESE BLOKES DO NOT BECOME WEALTHY BY GIVING MONEY AWAY