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There is no finance coming while the Chinese have control of the company by the short and curlies. They have had over two years to organise finance so what is holding this up? Answer, nothing! Whilst the Chinese directors are in place there is no reason or any genuine attempts to look for finance from any other source and they have had an eternity to arrange finance, if it was ever going to come. They are simply biding their time. Only those that believe in the tooth fairy believe that finance is coming from the Chinese.

The strategy is obvious. In two more quarters the cash on hand will be gone into directors pockets and expenses in keeping the doors open. At the last minute a failed attempt for a cap raise at around 2 cps will see TON in a dire financial position. Then a takeover offer will materialise from the cornerstone investor of a few cents per share. The Independent Experts Report ('IER') will say what they are paid to say. The offer is fair and reasonable as there are no other offers. No one else is likely to lob in an offer whilst the Chinese are in place. This scenario has played out before on the ASX.

The only hope we have is if there is any way of getting rid of the Chinese. The majority shareholders could act to save the company but I don't hold out much hope for that after the miserable response in the voting at the AGM.

I am only holding on in the hope that the takeover offer from the Chinese will be better than I can currently sell on market.