Ann: Phosphagenics Arbitration Award Issued, page-111

I guess there are a fair number of holders who went off to work this morning and haven't checked what happened today yet.  If correct (I used to manage my investments like that) that will lead to another bout of selling tomorrow. I have been in shares before that went into receivership - I don't recommend it. At least if you sell and take the loss you can use that against other capital gains.  When it goes to a receiver, that is just another that is just another person in front of you to get whatever might be left, and it seems to take forever to finalise.  Given that 0.1c is the lowest a share can trade on the ASX, I suspect that a share consolidation is required some time soon, but my guess is that they will fold.  DYOR