The administrators will ensure that the remaining $7 million is...

The administrators will ensure that the remaining $7 million is sucked into their coffers before the company is dissolved.

Once again insiders were given an opportunity to get out with the run from 3 cents to 14 cents, but the rest are destroyed.

A truly dreadful outcome for long term shareholders and the sector as a whole.

Why they failed to take the capital when it was offered is just gross incompetence - something that is constantly rewarded (ie bonuses, massive salaries etc.) and it is a desease that is crushing long term investment.