Fine line between "negative" and "realist" ...But on a more...

Fine line between "negative" and "realist" ...

But on a more serious note, I'd be appreciative of any shareholder who stumped up for the SPP to let us know if that money has or will be refunded.

I've been stung in a multitude of ways on the stock market (the best was a company that declared a dividend, traded ex-dividend for a couple of weeks, then decided not to actually pay the dividend, went into administration so shareholders lost everything and for the cherry, shareholders were forced to pay tax on a dividend that they had never received, because it had been declared! .... but I digress ...) and understand we're living in fantasy land if we believe we're trading in a well-regulated exchange.

This is new ground - I've not experienced a company that has completed a SPP, and then gone into Administration before ever trading again.

The ASX and ASIC has stood by while the company implied (either by direct announcement or by response to shareholders' queries) that:

- Pattersons would stump up the balance of the $8m not raised by the SPP;

- Sprott would re-finance the company;

- the Directors / Management have apparently taken up their SPP entitlement (which I'm 99.99% sure is either a bald-faced lie, or a (lame) attempt to avoid being sued).

Any feedback on the status of SPP payments would be greatly appreciated .... at least we may learn a lesson for the future.

Cheers,

$4.