Intel01,It is truly interesting that every failure to...

Intel01,

It is truly interesting that every failure to commercialise the MST product over the past number of years, has been greeted with an "it's not our fault" excuse. These have ranged from the US controlling the sales, competitor jealousy, changes to the requirements, to political interference verging on bullying, not raising enough money,etc, etc. Plus, despite each set back, there was the numerous on-going announcements made of new contracts signed and about to be delivered. MST was truly a company that was always "almost there".

The PNG deal is just one of these. You are aware of course as to the internal controversy within PNG with the Minister, at the time, saying that it was just a quote, while MST announcing that it was an almost done deal. Despite requests made of both parties neither actually clarified the real position. There were also suggestions of corruption with the PNG Minister involved. Plus questions raised internally, within PNG, as to the sanity of the deal, giving high powered weapons to the Correctional Services. It would seem that the PNG Government were simply not able to justify or perhaps find the money to proceed, or perhaps it was never a deal. All of the above was happening before Hilary went to PNG. To date there has not been, to my knowledge, any announcement from MST as to the current state of the deal. It just seemed to fall by the wayside as there were other deals signed, and of course the endless endeavours to source funding.

I think that you will find that while we are moving into a freer and more trade friendly period with China, we have not relaxed our security concerns with them. Witness the Federal Government initial and on-going ban on Huawei. We are still looking to the US as far as our national security is concerned, and I suspect for a long time to come.

I note with interest your desire for the Australia Government to part with taxpayers funds to buy into a private loss making company. This investment will also require the expansion of more taxpayers money to attempt what has not been done to date, commercialise the product. I for one do not want to see my tax funds being used thus. I have enough concern about the support of the motor industry personally I don't support nationalisation given that we are a free market economy, on the other hand you may do as you have every right to.

Given as I have also asked, on the basis that the shareholders voted on many occasions to loans, by way of convertible notes, which always had the possibility of dilution, what fair value, over and above what you currently have, do you think you are entitled to and not voted for?