the end is getting near, page-3

As per the Letter of Offer (7.2):

"The Underwriter may terminate the Underwriting Agreement and be released from its obligations on the happening of a number of events that the Company considers are usual for an underwriting agreement of this type."

The non lodgement of an audited Half yearly may get the Underwriter off the hook to some degree.

"If there is a Shortfall (being the number of Underwritten Shares for which Valid Applications have not been received before the Closing Date), the Underwriter must, by 4 March 2011, lodge or cause to be lodged with the Company applications for the Underwritten Shares comprising the Shortfall (including the application money)."

If they terminate, IMO, a fair chance exists that INT will go into V/A or go into c/taker mode where all costs will be cut, hoping for a white knight.