* The administrators are currently examining the company's trading position with a view to assessing its future viability.
* The first meeting of creditors will be held tomorrow morning and we understand that it is the board of directors intention to propose a deed of company agreement, which may allow the company to avoid liquidation be restructuring the company and reaching an agreement with its creditors. However, the future of the company will not be known for some weeks yet.
WAS Price at posting:
0.4¢ Sentiment: None Disclosure: Held
