I agree with you that it is not fair that new management is having to face such a big clean up after the last one. And yes, the new CEO has certainly taken definitive steps to right the ship- but he has a massive job to do so as to us existing shareholders, we just have lost faith after so much fake promises. I am also not clear about the 510 submission - will we be advised when it is submitted? the 4-5 months quoted, it is when it will be submitted or when they expect a response? and we have heard nothing about the legal issue. Has it been dropped? My guess is that the rights issue is not going to be fulfilled - this would explain the ringing around. I have struggled with myself as to whether to do my uptake but have decided not to. As I have lost already so much. And suspect if the rights issue is not taken up by shareholders, we have even less cash to last. OK it will be offered to new shareholders - they probably will stand to make a profit if we do move upwards before I break even which will be yonks - if we last.
MEB Price at posting:
2.0¢ Sentiment: None Disclosure: Held