Ann: Corporate Governance Statement, page-15

Not fallen. Driven.
Wanton destruction of value by foistering a dilutive and structurally inept transaction.
Basically the Directors throwing their hands up in the air and saying we've spent all the money over the last ten years ($10 million) and are now jumping out the window.
I suppose for Middlemas he has plenty of other companies all of which needs deals and have money to pay fees etc do PSF can just be sold off to any bidder.
Damn shame.
It has been driven off a cliff!