my research

Hi Kakoii, I have tslked to Vic and understand he has 2 offers but none in writing. The administrators have offers but none in writing also. We have 38 days to get one in writing. I think everyone knows this and Vic and the administrators are going to hold out for the best offer while the investors are going to wait till the last minute to put something in writing. Everyone is dancing around the table trying to get the best deal. I have been told that in VA's the creditors always take a hair cut and it is not out of the question for them to settle for 10c in the dollar. In other words MSC could be back in business with no debt (apart from debentures) for a cost of maybe $1.8m.
What a great result as once listed again MSC could go for a rights issue of say 1 for 5 at 5c, raising about $1.5m, enough cash to produce and fill our Quandong order of $5.3m. Once we've done that its up, up and away. The bank is the mayor creditor and they will certainly take any offer to at least get something and the creditors meeting only needs a majority vote in terms of debt to get a deal.
Summing up we don't need much to be back in business and from there we just need the orders. Companies won't order while you're in VA so I expect the orders to come thick and fast once we are relisted.
Kakoii, can you ask Vic if he is close to getting something in writing and why isn't he playing one investor off against another. Also how many shares will we have to offer investors to put up the cash.
Lastly it would be tragic if MSC goes belly up with about $100m in losses carried forward. For a profitable company that is an asset of over $30m (about 20c in sp terms). What a waste if it is unused. Theoretically once we are selling and making a profit that asset should be included in the sp.
So once MSC is trading profitably in say 3 months, the sp could be somewhat north of say 50c.