a very blatant case of market manipulation, page-4

Hmm I don't think any insiders made any dosh out of this one from the mistype. I'm sure the last couple of days prior to the announcement on Friday were very hectic, although it is a dooozy of a mistake!

And they did state that the warehouse facility would be paid off by the 15th March 2009. If anyone read the schedule properly they would have noted $100 or so million was missing somewhere.

I think the more immediate concerns are there ability to sell the properties at 'fair' market - given the US is in liquidity melt down!!

This baby will be going month to month. As they slowly pay off the dept each month we should see an increase in value.

I reckon at this early stage, they have simply prevented the company from going belly up with debt problems. Look at Bear Sterns - there GONE!!!!!! In 1 week - due primarily to a drastic reduction in creditors confidence in there ability to re-pay - Plus extreme leverage.

Rat at least have stopped the margin calls, allowing them to organise to sell there assets.

The first hurdle will be April where they need 19 million.

I think they already have most of it from the closing up the hedging - 38 million - the 17 million = 21 million.

They are also in the process of selling a property in Miami which is 100% owned which should net I believe $50 million aus. This should cover them till August 08.

So the key 2 points for rat are 1. Can they wrap up the Miami sale in 2 months? And 2 can they organise to sell another $110 million property by Aug 2008 - keeping in mind it may take 3 months to get things sold!

I personally bought in last week at around 12 cents and got out Friday and today at 14 cents.

I believe it may go lower with the DOW set for a big fall. I don't think the fed's cutting interest rates will save them this time - it will just push up the price of oil to $120 a barrel and hurt everyone.

looking to get back in around 9 - 11 cents.

Regards

zip