Ann: Further Company Update , page-6

I suspect all shareholders have been dudded on this one. If you look at the history since the reverse takeover we had assets on the balance sheet as at June 30 2008, stock $20mil, prepayments $5mil and debtors of nearly $30mil, of which $10mil was due from Optus. Somehow all this disappeared 3 months after signing when the new shareholders took control. I wonder what Messers Poole and Mihzerkian were telling the old auditors.

Shareholder class action would be good against the former directors and auditor.