relisting on asx, page-19

Myroc,
I would like to clarify a few points in your post firstly, I am not an apologist for ASOF and secondly, ASOF in my eyes, and I am sure in the eyes of all the other shareholders, has never been and will never be our friend. Being optimistic about, shareholders being able to ride on coat-tails of their action to re-list the company, is in my opinion a second chance. You have obviously seen the discussions between myself and Giddy, regarding ASOF’s option to just appoint a liquidator. As I have asked in the past, would that have been your preferred result? There are no prizes for calculating our return in that scenario. I think that if I can sell my shares and recover a few thousand dollars is better than nothing. Albeit that recovery may take a long time depending on the number of people willing to buy shares in the new look MST. Although as a debt free and cashed up Company it may look good, certainly for the time being it will have an attractive balance sheet, although it’s assets may need to be re-valued down.
If you are keen to revisit history, the rot set into MST long before we had ever heard of ASOF. Look back at when they tried to set up the facility with GEM, and surprise that fell over much the same way as the others. That is as I see it the start of the long downward spiral, of dealing with back street lenders. Giddy’s shipwreck post covered that, in a light hearted manner.
Given that technically ASOF was a funder to MST, and given that like everyone else they were concerned about MST’s cash flow, and imminent possible failure to raise funds, and as all lenders do in that case they asked for their money back. Sure when lenders ask for the money back from a distressed company it is never considered a sign of either being helpful or that of friendship, just commercial practice. You also ask “More recently why would a friend and partner put forward a DOCA designed to unashamedly give themselves 95% of the company” Unfortunately, they were given potentially the 95% (although the administrator, from memory, said that they were holding about 85%, the remainder are the other note holders making up the 95%) when MST entered into the Con Note issue with them. Other than, allowing the Company to go into liquidation or being repaid, the only other option, available to ASOF, is to convert their notes, which they have indicated they will do. What other options did they have?
Again this is not been apologetic for any of the Actions of ASOF, in my opinion I am just being realistic to the current situation. Of course, you will beg to differ which of course you are entitled do, and it would be a dull and boring world if there were not these differences. Whatever happens, we are all in the same lifeboat waiting to see if the Carpathia arrives or not.