Let's SAVE this company, page-72

Less than 3 months ago the company signed off and released its 2018 Annual report.

The accounts showed a NET DEFICIT of $369,976. (Overall negative value)

On page 4 a $500,000 promissory note was mentioned that was arranged with Pramana Capital

The company had also previously made a number of announcements that advised that Pramana Capital were to guarantee a $150 million debt, bond raising, the latest announcement being that finalisation was due late October, early November 2018

A view of Pramana Capital on ASIC, the regulator, shows that, Pramana Capital is under `strike off` proceedings, possibly  due to non payment of a minor yearly registration fee.

Pramana Capital will soon disappear as a registered company and can no longer trade, contain assets, operate in general.

If actions of this board weren`t so serious in regard to the shareholders equity, it would be hilarious. Pramana capital has cost the company a small fortune since 2015 for absolutely `NO` result and is closely aligned to the `Fiji product` which has never been approved by shareholders.

This board goes from one mis-step to the next one, and has done so right from the very beginning. Both Duckett and Taylor were directors in 2013, brought Agline Pastorial,  have overseen the destruction of millions of dollars of shareholder funds and brought the company to the point of insolvency. Where is the September and December 2018 quarterly reports?

Pramana capital, Guaranteeing $150 million one day, not paying its registration fee the next.

  At least a `strike off` will provide the Chairman with another option for blame when the next annual report rolls around. On second thoughts, thats a highly unlikely scenario, given shareholders now being informed, imminent de listing of the company and the financial position of the company.

Pramana  had 2 court judgements against it, that remained unpaid, during the positive announcements of imminent funding for PDF, made by the current chairman.

Given that Pramana Capital`s only director is acknowledged as a `related party` to the board, shareholders should give serious thought to how they vote at the `spill meeting` as both Pramana Capital and PDF are both under automatic ` strike off` precedings at this time by their regulators.

If you have voted already, you can simply vote again to update your position.

To become further informed, contact [email protected]

DYOR IMO

standing for the new board, to clean up the mess.