New financial year today and Friday will be the three month...

New financial year today and Friday will be the three month anniversary of DVM's suspension from quotation, with no action in sight.

Requotation depends on meeting the requirements of Chapter 1 of the ASX Listing Rules where Condition 7 in rule 1.1 as to spread has the specific warning: "This condition is not met if spread is obtained by artificial means". Examples are given of artificial means such as giving shares away, and issuing combinations of nominee companies and names.

One wonders how 120 new names with at least $2000 worth of shares are going to be achieved. The current prospectus is one possibility but it desperately needs a supplementary and some explanation as to what the Directors are up to with their 14cps shares - particularly as the money for Star Finch-1 and possibly Lake MacLeod-1 will have been expended.

What else is there lads? Don't forget the ASX likes you to have some real assets and rule 1.3.1 requires that DVM "must have net tangible assets of at least $2 million" at time of admission to requotation. With Ivan's salary and expenses and cost of running the company for the last few months eating into cash resources, the need for a raising under the prospectus is getting less nominal as each week passes.