Ann: ASIC Form 484 - Cancellation of Shares, page-6

Companies like this operate with the method that things are always just about to improve, earnings/production increases are always just around the corner, sector outlook improvements are always just around the corner.

We have had years of this already. When people stop buying into the never-ending idea that the company will become viable 'soon', and 'management' can no longer tap the market endlessly for funds because just 'one-more raising' will get the company to the point where things will improve.... time to call in Mr Admin.

Their choice of address does not help because when anyone mentions Gold Coast, the following come to mind:
http://www.smh.com.au/business/sun-setting-on-fraud-capital-of-australia-20130329-2gz30.html