Actually reading that prospectus again it looks like we will have to pay 1M in fees to Defender. 500k at the start and another 500k if the accounts aren't sorted by 15 May which they aren't. We also have to pay them 213k in management and reimbursement fees. Thats 1.2M on top of what we owe them... so far thats well over 2m and close to 3m. Is that a conflict the board (which they essentially control) approve huge payments like this? No way they deserve 1m is fees for non payment. Again all points to my initial thoughts.
AOW Price at posting:
2.1¢ Sentiment: None Disclosure: Held
