It's certainly looks that way, it appears someone or a group have messed up really really badly, for Ravi to walk away suggests that there's no value left in the company and they have effectively squandered what was a viable business to be left holding what looks like nothing. I really can't see anyone investing anymore money as they have sold off anything of value. In my opinion they have reached the end of the road and another australian biomedical company looks like coming to nought.
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