I have been in contact with the administrators and their reply...

I have been in contact with the administrators and their reply is below. Its far from over and shareholders MAY not have lost it all.

Basically they are speaking to several parties about recapitalisation and restructure. if it happens it will via a deed of company arangement to facilitate the recapitalisation.

then it will need 2 more approvals for it to proceed they are from :

ASX
Shareholders

If the creditors accept then there will be a shareholder meeting to consider the proposal . The time frame envisaged is 3-6 months.


Shareholders will receive notice of the meeting and the explanatory statement at the time the meeting is convened.

So for us shareholders there may be hope of something, and a chance for the patents and product to be again marketed , and build some value back into the situation.

The light at the end of the tunnel is not a freight train.

Cheers Rebel