KT 1924, just a question? Why did you think Pagers proposal was the best one to get up.? Its the only one that does not do a rights issue to share holders to allow them average down. What are your thoughts on nearly 3 million dollars being sent over to Allegra ( Based in Zambia) and then having Ethan unable to pay its bills thus going under while Ken runs around in Zambia with his Allegra coat on. A demand for repayment of this 3 million dollars has been sent to Allegra by the Administrators but there has been NO RESPONSE from Allegra at the time of the report. What about the sky high consultation fees from directors, now creditors when the Administrators in the OCT 2011 report said that the basic book keeping was substandard and the flow of monies and expenses is poorly documented for so called professionals charging like wounded bulls? Ken charged Ethan $110, 000 for "consultation fees" from Feb - Jun 2011 alone. There is a potential claim of $256,000 for trading while insolvant . The administrators have come right out and said what people would know by now of ETH Management .. their words not mine: *Poor stategic management of business *Ongoing losses *High cash use *Poor financial control including lack of records (In respect to Allegra) *Disputes amonst directors.
Were these clowns worth the money they were paying themselves.
Read the report people.. its an outrage.
ETH Price at posting:
14.5¢ Sentiment: Hold Disclosure: Held
