i wuz right

well crikey moses I just read the DOCA, rather dull but....


when I wuz wrong i wrote

"hightrax this is one scenario where"z" is Mum and son and associates

Z converts its debt to equity at 3.5c
Z underwrites a 3 for 5 rights issue at 3.5c

only 20% is taken up because noone is interested anymore and Z moves to over 50% control

so for the $6million they now control the show

its not fair but reasonable, minorities can take up their rights if they wish .

anyway thats I would be suggesting to Z to gain control. pretty easy really!
good luck to them"


well I wasnt far off, Mum gets control at an even cheaper price of 1c. They punt $6million into the show at a penny a pop and gain control. And according to the DOCA they will support the company with more loot going forward


Now the JUICY bit

Moonshadow, a company associated with a Mr King, received a payment of $385,000 in May 2008. The Administrators have identified the payment as possibly being an uncommercial transaction.

Similarly a Mr de Boulay pulled a tasty $64,000 around the same time also "possibly uncommercial'

Dont you love it.

Now the WEIRD bit

The guy who brought us the shareholder disaster known as TAM is on the board ( a D Wadell) with PSV destroyer Graham Sloan

Yikes............ I feel like we are jumping out of the frying pan into the fire. Mum should find guys who CREATE SHAREHOLDER VALUE.

take up your entitlement , pray and hope, and sell into the first big spike.


GO MCO