I stated very clearly that in my opinion the Winter Gardens proposed takeover is dead. How did i form that opinion? I spoke to both parties and asked difficult questions.
Until the end of the month IGS can say its still on. Winter Gardens on the other hand via IGS has indicated that its off to the courts. That means they are in dispute and its not going to happen. IGS has no funding secured to take out WG. IF it had funding the financials would have been released to the market. The financials will most likely show an increase in debtors via Sante Fe sale of assets and Winter Gardens refund owing.
IGS will now need to seek a new project and seek another hand out to repay con note holders and pay for a new venture. Otherwise it can close shop. This is unlikely as directors want to get paid for services rendered plus like ongoing director fees.
What more do you guys want?
Announcements can be written any way that directors wish. Only in time will tell the truth or part truth eventuates.
As i am not in bed with either IGS or Winter Gardens i can only offer opinions.
