I got that lovely bit of reading from RSM today Mr McPherson. It...

I got that lovely bit of reading from RSM today Mr McPherson. It must be truly an embarassing situation for you to have to read it. I trust you will refer to it in your CV for your next job!

shareholders current position diluted from 87% to 20%
a further $2,000,000 cap raising reducing it to 14% dilution
a possible further loan from republic of $750,000
the sale of Diakyne (a great investment)
the sale of sunnywipes business (another great investment)
$200k + salary for you to run this company
if the deal does not proceed an insolvency administrator will need to be appointed!!!!
No other funding options are available - REALLY what Mr Copolos had enought of donating to you?

Ultimate conclusion - this company has been so badly managed that you the shareholders have absolutely no alternative but to allow the wolf through the door!

Please make ONE good decision for the benefit of this company and it sad and sorry shareholders - hand in your resignation.