i am not the full bottle on all this voluntary administration...

i am not the full bottle on all this voluntary administration stuff. i tend to be involved in companies that are going concerns rather than basket cases.

however, i have just spoken to a buddy regarding my previous post. i am worried that i might have got people's hopes up too high.

he tells me that the biggest issue here is that the $2.5m in debt that is due and payable at Xmas holds a fixed and floating charge....in these circumstances there is no apparent upside for the noteholders in letting their note convert into equity at any price. . . . they might as well just insist on repayment or take the company.

Therefore, unless there is a piece to this puzzle that we can't fathom at shareholders should get used to the notion that there will be nothing except 100% tax write off...

The pain of this will take a while to settle down for all investors.

I have learned my own hard lessons in the past re a stock that i was sucked into. . . . largely through a cheer squad on SS. . . .and where I became emotionally attached, believed the spin & refused to look for the negatives. . . . I lost more money than i like to recall. It was PSD back in the Rezos days.

I learned a lot of lessons from that (and a couple of others) and am a much better investor for it. It is actually this experience that motivates me to try to be the counter-view when i see others potentially falling into the same trap.

The challenge for all of you who stayed with this one through to the end despite some very well reasoned, financially factual and considered, posts from me and Decan is to work out why you didn't want to listen.

I won't post again unless there is news or I am invited.