There were a few questions at the AGM about sales contracts. The...

There were a few questions at the AGM about sales contracts. The Board explained they were focused on a recapitalization and not securing new sales contracts. They claimed buyers of oil and wood products would no enter into contracts because of the risk of QIN's survival.

This was the key reason why I lost confidence in the Board. I believe new long term sales contracts would demonstrate demand for the product and confirm the market price of sandalwood oil.

FW made several comments about no sales of products or sales of investments in new plantations. (I understand the reluctance of investors to invest in plantations with the risk of QIN's viability).

It is clear the note holders are backing the Board. They keep rolling over the forbearance agreement.


I suspect the note holders will eventually acquire the business very cheaply. No significant sales contracts of oil or wood products in my humble opinion is assisting.