PRA/THD Company Update

Phone call with Ananda Monday 1st Feb 2016:

Due diligence: The people hired to complete the HK side of the DD process have been painfully slow. There was mention of different types of DD one which is DD of assets hence my confusion.

Prospectus: The Prospectus is expected to be released in 2-3 weeks time and given the success of the buddy platform there is confidence of strong interest in THD's tech.

Cash at the bank: There's basically none.. As we can see.. however it's not entirely an uncommon scenario under the RTO process. We both agreed the pressure is on.

Tim Wise resignation: Tim held no shares or options in the business and wasn't getting paid so hence he resigned and moved on. No bad blood. At least Ananda was to the point on that.

HK Labor Hearings: Not a significant issue enough to cause failure of this RTO. Two sides to a story as we all know. It was downplayed but it still gnaws at the back of my mind a tad..

Timeframes:
2-3 weeks for the issuance of the Prospectus; then
2-3 weeks for raising to be completed; then
4-6 weeks after the above periods for the ASX to approve re-instatement to official quotation and trading to re-commence as THD.

I know some holders will be "Yeah we've heard it all before" but we should receive an updated timeline shortly and it appears we aren't dead in the water just yet. But. The pressure is on as there's no $ in the bank to pay anyone's wages!

We may just sneak this home yet..

Happy days.
Boom.