these people look for any reason to bash mst, page-19

LTI,

ASOF actions would seem to be contradictory and this in itself speaks of motive.

On the surface it was presented to us that ASOF got involved because MST needed cash and ASOF could get their hands on cheap notes from a seemingly distressed seller. But ASOFs purchase of the notes was conditional upon not only changes to the terms but also improving MSTs cash position to remove the immediate threat. To that end ASOF agreed to provide a chunk of cash and provide incentive for other equity holders to do the same.

So without the cash being raised they saw MST as being in immediate danger and wouldn't proceed with their purchase of notes, or so the conditions led us to believe. But before the dust is even settled they take actions that directly undermined the cash position which was key to the conditions of their investment, or so we were supposed to believe. The illusion was that our interest were alligned, ie both them and us needed the company to have cash to continue development and survive through to sales.

Given the pretense that our interests were alligned and thus we should see them as friendly and put in a little cash ourselves, it stands in stark contrast that before the dust has even settled they reclaimed most, if not all of the cash they were to provide for the greater good and possibly left MST with a net negative cash injection after costs.

Now directors may have told investors at the EGM that ASOF legal team were just trying to make a point over the breach but to what end ? What was the point ? If their interests were really alligned and they know how desparately the cash is why drag us through the mud and remove all the funding ? Surely this would be cutting off ones nose to spite their face if their rescue and cash injection was truely to protect their notes purchase.

Even after they took actions which they knew compromised the company and its short term survival prospects they continued with their notes purchase and subsequently for better terms approved by scared holders.

These actions appear calculated and its hard to reconcile the legal steps and resultant financial ramifications with their subsequent completion of the notes purchase if their overal aim was shoter term success of MST.

Yes we could all have stumped up more money but do you really think that the result would be different ?

PS. ASOF isn't a hedge fund. Don't think there is any hedging involved except maybe hiding behind one.