Has not SGC issued a Notice of Default to BS re: Philippines...

Has not SGC issued a Notice of Default to BS re: Philippines deal? This notice (being given back in March I think) must be very close to being not just a notice but a default action and thus the deal is finished. This means SGC will now once again have obligations with regards to Nido and the DOE. Not a good sign since they too must be running thin on cash. I believe someone posted that BS are unable to pay their bills. Not a good sign especially considering the market has decided to pummel SGC share price back to its all time low of 0.5 AUD cents. Market cap in USD is around 2.6 million - how are they going to pay for more drill pipes for Cadlao? I am guessing Nido's assets (6B, 54A, 58 etc.) will be re-taken by the DOE for Nido's defaulting on their work program, obligations, and promises (unless influence in Manila can be peddled). I still wonder if the Manila Nido office is getting paid their salaries - if BS cannot afford it, how can SGC?