Ann: Financial Covenants , page-18

Hi Jaaa,

FEA breached its loan covenents on 30/6/2009 and it was given 6 months to fix it by 31/12/2009.

But at 31/12/2009 the covenants were still breached, now the banks have given FEA another 50-day reprieve until 19/2/2010 - Just 22 days left. What would happen after that day? Another 7-day reprieve?

MIS is a dirty word now. It stinks. Even FEA's report no longer used it any more, how many investors would still throw money in it?

MIS is a kind of PONZI scheme and all MIS bisinesses have to collapse eventually just as GTP/TIM did.