Ann: Suspension Update, page-21

How the CER deals with collecting debts is it proceeds first with correspondence, if that fails it will appoint a debt collector and statutory demand (most recent position, lapsed 14th June). I believe current management are downplaying the severity of this demand from the CER as they must have been in correspondence for months beforehand. If anyone wants to check, there's loads of information on the CER website regarding this exact situation.

The next step is legal action to wind down the company, director penalties etc. I believe a payment plan would have been organised/discussed during the first correspondence phase (well and truly passed) and that management are now attempting to bullshit their way out of the legal enforcement stage.

I hope to be wrong but the long track record from this company since listing supports the pessimistic case. Regardless, the company needs an injection of millions of dollars. From their current position, debt is out of the question as they're financially insolvent. I'm expecting a large dilution event in the near future as the hail Mary.