Marla, I have answered your question, as I quote my response below.....
"Your point about some of the old baggage being involved with the new growers is taken, and is a significant concern. But I would rather be in a group with a common purpose, and their result will be the same as mine."
Moreover, going forward, everybody new or old needs to be on notice that no more "sheet" will be accepted from "anybody", past, present or future!
You note I am not a shareholder currently, probably only by circumstances rather than choice. I purchased shares at the initial opening of TFS, from memory they were 15 cents, I also had dividend reinvestment, and purchased additional shares up to about a $1/share, I think I had about 150,000 shares at one stage.....the trees and the shares were supposed to give me a nice retirement!.....along the way, I needed to sell the shares, otherwise, I would still have them....all I have now have for my retirement is the trees....I am trying to protect what little I have left.....this has taken a significant toll on my health and mind which I am trying to overcome! To say, I am shattered with what has happened, is an understatement. For me, the Receivers and a recapitalisation were not the answer, (as they are controlled by bigger fish than me), a group with a common goal is my only hope.....I suppose I will go down with the ship! Where it ends, or if it will work, only time will tell! I am getting ready for the bonfire if the whole thing is useless!
One year down the track, and a recapitalization does not appear to be happening. The Receivers have already hinted at selling off parts of the business. The Receivers should have engaged the growers from the start, but didn't, we were considered as the enemy. As mentioned previously, the proceeds from TFS 2002 do not reflect what the company stated were the selling price. I would like to see an audit of that whole process. Then, the company admits an oversight of 8 hectares of trees which were not harvested, but will be next year, and some dividend paid if there is a buyer for them.
Why didn't the company sell it's trees at the same auction as the growers of TFS 2002?
I think you have trees in TFS 2003, not withstanding what has happened in recent months, the heartwood and oil content has been grossly exaggerated by the company for many years, the result was that irrespective of oil being worth $2,800 or $4,500 kilogram, the oil or heartwood content was only returning approx. 1/6th of what had been spruiked by the company. I don't care who knew or didn't know this. I will take my chance going forward!