It is a truly bizarre situation, especially given Simon Trevisan...

It is a truly bizarre situation, especially given Simon Trevisan remains on the board and subscribed for $100k of shares in the rights issue. Simon is currently no 3 on the register with 9mil shares, and Krystle Trevisan (presumably Adrian's wife) is no 1 with about 20mil shares. So between the two, they own about a quarter on the company. I honestly believe this would have more value as a shell now... seriously what medical professional is going to want to touch the device after these revelations? They would be better off scaling back costs, flushing the register and looking for a vend with the remaining capital.