look, the bottom line is that we have a locked register and carrying corporate debt . we either do a deep rights issue and all the shareholders get wiped out . and get like 0.1c in the dollar . or we wind up the company . which i really don't want to do . or we find a mechanism, to allow cash into the company again so we can restore services . and then drag the valuation up again .
on that second note, we looked at SPCL as a reverse merger . however they didn't turn up (no comment) . we have another option, which we're running down now . and should be able to put something out soon . not great as its still going to be dilutive (its taken too long), but its a lot better than the deep rights issue and there's still a pathway for investors to get back to the average entry price ..
again, if anyone has any questions, just email investor at mig dot me . and i'll try and respond .
steve
MIG Price at posting:
4.4¢ Sentiment: None Disclosure: Held
