There is no way that the business judgement rule is a defence here. Ignoring the warnings of the auditor and ASX and spending recklessly are not entrepreneurial especially when the result was a new con note but at ONE TENTH of the conversion value of the old note and the new holder was surprise, surprise ....... the major shareholder who has a representative on the Board......Entrepreneurial...I don't think so, but corrupt does come to mind
conversion or default, page-37
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