One Clip,Sorry where is the mistake? Certain entitlements for...

One Clip,

Sorry where is the mistake? Certain entitlements for the employees rank in the same order as the secured creditors. All distributions are made after the payment to the liquidator and the costs of the liquidation, to secured creditors, staff entitlements, unsecured creditors and then to shareholders. You seem to imply that shareholders and staff are on the same level, clearly we are not. So we need to be very clear one the one point that being that shareholders rank last and not in equal priority to any other secured or unsecured creditors or staff.

I asked you before how you concluded the IP was worth billions, as somehow you still seem to think that the IP has a hidden worth which will be miraculously found in liquidation. You are aware that the are hundreds of patents lodged all over the world everyday for every conceivable product and services, most of them prove to be worthless,due to being non-commercial. One way of valuing patents held by a company such as MST is based on the sales achieved from the patents. Given the level of sales which have been achieved to date based on the time that the patents have been held, the capital expended by MST, I have to ask again why do you think that the IP is going to achieve any more that has been offered to date.


As regards your comment "The other advantage of liquidation is that the liquidator is required to enquire into the failure of the company and possible offences by people involved in the company and report it to ASIC." Unfortunately, this only applies to Directors and employees of the company. Creditors will also be asked to fund this and I suspect that given the low level of return, would probably go no-where. Given that there may be a good reason for this for us, so we can understand as shareholders the desperation that the Directors had to keep in my opinion this Ponzi scheme alive, we will sadly never find out as we will never be asked to do it. However, ASOF would not figure in this so that dashes your hopes of revenge on them from that quarter, this would only serve to put the former directors in a bad light, thereby shattering long held admirations.

I fail to understand your statement "I believe we are better off seeing this company put into liquidation, as we are far more likely to see more money returned through that process, and it will also throw a spanner in the evil works of these snakes as they would clearly like to keep Metal Storm intact." I may be a little naive but I would have thought that keeping MST intact with us as shareholders would have been a good thing. Given your enthusiasm for the patents I would have thought that you too would have been excited. It just looks however that you are prepared to let it fall over, risk recovering nothing, for some inexplicable reason you believe that ASOF have been solely responsible for this farce that is MST.

Again I do not concede that your proposal has any merit whatsoever for us as shareholders.