Giddy,Good to know that you are able to count, please let us...

Giddy,
Good to know that you are able to count, please let us know when you can achieve this without using your fingers, will follow these developments with great interest. In the meantime it may be a good idea to ensure that your spell checker is switched on and operational, otherwise you could be accused of stuffing up the English language. Also Giddy love the idea of introducing a new and exciting game, within a game, of guess the occupation/profession. In respect to you I am guessing Teacher or a Tap Dancer? Unfortunately, you were not correct with your choice of Journalist, as for your second choice, I am not aware of what a labour Minister is or does, are you suggesting new religion?

Likewise I will not waste time dissecting your novella, but discuss your repetitive statement “ASOF have absolutely no obligation to enforce the conditions precedent as I stated previously. Not doing so is an alternative which would avoid liquidation isn't it!” As an endorsement of this the Company has also confirmed that the right to waive this exists.

While this is true as we have been told this in the announcement. One would have to ask why they would. Certainly, they are not going to waive any rights that they have to the issue of the shares. What they have done, you would probably go so far as to suggest, is that they have prepared us for the eventuality of the ASIC/ASX waver not being granted, and they move to an EGM to have the shares issued. The second condition precedent being ASX granting exemption from Chapter 1 of the listing rules. This IMHO is as critical as the issue of the shares, as ASOF need to have the Company’s shares relisted and trading. If the Company were to remain unlisted this changes the whole dynamics for raising capital, as it closes many avenues to the capital markets, as there is a reluctance to invest in unlisted companies. Also one wonders how many of the “loyal and long term shareholders” have a desire to invest in unlisted companies? Personally, I have been caught so many times investing in unlisted start up companies such as MST, I will never do it again. ASOF also are caught in that they also cannot divest their shareholding, or use their stock as an inducement for capital. If ASX waver is not granted then they have to go through the full listing procedure, i.e. Chapter1. For MST, this is going to be costly, time consuming and possibly impossible to achieve. Also IMHO could be the catalyst for ASOF to consider liquidation. Remember the steps for relisting would have been the same hurdle that has to be met by any other party, such as Pinder, so this is not unique to ASOF.

One last point, ASOF were never, are not, nor will ever be our friends. They are nothing more than opportunists that were caught when the music stopped. Any support for them was on the basis that they provided our only chance for some salvation. Having said that I am conditionally impressed with what has transpired to date. We have seen a new Board with expertise, and we have also seen the bones of what may be a reasonable business plan. My main concern continues to be the on-going funding and access the capital.