Intel,It has been argued here that I am pro ASOF however, as I...

Intel,

It has been argued here that I am pro ASOF however, as I have said many times I am ambivalent towards ASOF, other than that I do not hold them responsible for the woes that have beset MST.

I was also of the opinion that it was inevitable that a note conversion would take place and Shareholders would be diluted. Again this note conversion could have been Harmony, Assured, ASOF or the worse case scenario Luxinvest. Given of course that Assured and Luxinvest did not proceed however, if they had they would have been holding the notes and exercised them.

I am not aware that there is a limit on the number of times that a creditors meeting can be adjourned however, given valid reasons I don't see why there would be a limit if the creditors agree. Yes the Administrator has the power to appoint a liquidator, and I am sure he will do so as soon as his costs are not paid.

I strongly disagree with your assumption that liquidation leads to spirited bidding. A company in liquidation is to be sold at any price (the highest of course) and as such bidders historically give low ball offers. Also, to date there is no firm evidence of offers being greater than the debt, remember the last (and only) offer before was A$100k.

As for your comment that " I have no confidence that my shares would ever be worth anything significant following dilution at 95% or whatever" Again I have disagreed with this on many occasions, as I would expect holding shares that I could sell for $0.001 has to be worth more than shares that I cannot sell. For example 1,000,000 shares at $0.001 are worth $1,000.00 the same number of shares at $0.000 are worth nothing. Remember that ASX has very kindly limited our loss to $0.001 as that is the lowest shares can trade. Also unless there is a share consolidation if you had 1,000,000 shares before, you still hold 1,000,000 shares. There has been many a robust discussion as to the difference between dilution and consolidation.However, this is now academic given that the stock will not be re-listed.

As I said before, we will soon get to road test the theory that liquidation gives us the best return. I suspect that other than possible tax losses I will get no cash return.