Yesterday's notice nearly verify all of my worst assumptions of...

Yesterday's notice nearly verify all of my worst assumptions of the restructure. Except for the statament on T-card litigation, which sounds a bit reasonable. (that's why the SP still 1c, and some seller reduced selling???)

With net debt actually is just $11 million(net asset), yearly revenue remains around above $200 million,a uncertain litigation on the way, this is obvious not a fair deal for all of ERG shareholders. So the announcement try to use a scary tone, not to talk about the future, not to give us any details about other options, not to talk about any progress of the ongoing projects, not to talk about the recent cash flows.

How naive ERG is? just using such a obvious trick to scare all of us??? Now I am quite sure that Westpac and BT will vote no on the restructure as long as they hold the common sense. Now, with this notice, I guess the restructure will fail, and Collin will not be elected as the CEO.

If restructure fail, of course Duncan has to support ERG untill he get most of his loan back by finishing the ongoing projects.(If ERG bankrupt now because of his $100 million loan, all the revenue of the ongoing projects, all the maintainence revenue will disappear. his sharevalue will disappear too)