Ann: Target's Statement, page-8

Ok the shell is cheap but not exactly cleaned up and it also has over 1.134 billion of shares on the registrar. It's debt free to?
I'm not sure who the top 5 shareholders are that they outlined in the target statement but probably old holders.
Peter Buttery is the only director holding any shares in FRE at just over 60 million.
and looking back it seems the chairman Peter Buttery and the 2 other directors have been in place since at least 2011 and have not really taken the company to any great heights or managed to find a better investment for FRE to be involved with.
The voip business is contracted out and not generating any revenue and sounds like it might be obsolete soon anyway. It's basically worthless.
Just looked at the website and yes this is outdated tech with people using smart phones and apps such as Norwoods world phone as well as FaceTime and Skype being free and available on mobile devices.
Someone also mentioned the tax right offs that this company apparently has available to it if it manages to find a new tech business to back door into the FRE shell.
Does anyone know if this is still available to the company as I found in a old announcement that they may of lost the credits when they off loaded the overseas assets of freshtel.

Notice of general meeting November 2010
It should be noted that, as a consequence of this transaction, Freshtel Holdings will:

• - have disposed of its core business
  
  
• - have given up tax losses in the order of AUD$23M linked to the disposal of its core business
  
  
• - remain a going concern for the next 18 months
  

I only have recently taken a small holding in FRE but wonder if the current directors actually have anything worth while lined up for this shell or the contacts and skills needed to do a deal.
They have been looking for years for something else to put into this company to make it relevant and have had at least one failed attempt at a mining acquisition and lots of announcements stating they are in talks with different parties but it was all talk and came to nothing.
I'm hoping for a cracker deal too but not sure the current board can deliver on it.

It is interesting that DDC want the shell, but how badly do they want or need it?