good news..., page-21

re: what a chookingnoose. Why did MHI waited until after October 31 to sell their bonds to Stark and why did CMQ agreed to additional covenants?

The answers are simple. Under the conditions of the bond (please refer to “Transfer of Convertible Bonds” on page 27 of 104 of the document of 18 February 2005) which said "Until 31 October 2005, the bondholder may only transfer the convertible bonds with the written consent of CMQ. So MHI waited until the 1 November and squeezed CMQ for the concessions.
Looked like MHI was certainly in a hurry to quit immediately after 31 October 2005!!

Wake-up, look at how CMQ played around with words when reporting the production problems, kg of API, TPA, litres and now units. What is clear is that in previous announcements, MP1 name plate capacity was announced as 20,000 kg (400,000 litres).

On 8 March 2005 – CMQ’s manufacturing capacity was designed to manufacture 20,000 kg per annum of API. (5th paragraph). Plant capacity will increase to 400,000 litres of finished product per annum once full plant capacity is reached (8th paragraph).

The plant capacity has now quietly been reduced in the 5 October update - on page 11, Target design nameplate production will produce in excess of 18,000 units (20 litres) per annum.

Is this the type of executives you trust? Has the task of informing shareholders after CMQ was charged by ASIC for failure to inform shareholders? Or has it got worst?

There are some who posted furiously here and on other sites that the CMQ announcements implied full name plate capacity was around the corner! That was months ago!! What happened? Those spruikers are either related or have interests related to the CMQ management or they are simply too foolish to see the truth.

Cheers