Ann: Appointment of Voluntary Administrators, page-31

Lets look at this angle. Wave energy doesn't work and is never going to work. So they buy something that does work ,Solar. That way they can still keep milking the government rebate coffers for CETO and get a bit happening with Solar.
Problem is the company is still being run by the same incompetents. So why are we surprised that it fell over.
I hate the idea that CETO is a dead concept but I think its accurate. If MO had any good news about CETO over the years he would have shouting it over the roof tops. Instead he slithered into the world of untruths and bold faced Lies to keep the game running.
Sadly we bought it .