Three items of interest, page-5

Dear Dr, I think one thing that stands out (and worth pointing out to ASIC if you so deem it appropriate) is why the board never explored a capital raising exercise at all. It has been very binary so far i.e. take the 2c offer or go into voluntary administration. There must exist a fiduciary responsibility of the board to do everything in their power to prevent administration which includes looking for alternate offers (and making the same available + transparent to shareholders to consider), asset sales, debt restructure and obviously a capital raise. Now, if the capital raising failed then at least the board has demonstrated that the effort was made before administration but it looks to me that this was never even on their agenda. It certainly begs the question and has me scratching my head. That's my 2 cents anyway (pardon the pun). Good luck Doc.