TTV's announcement of 13th March contained details of the mess...

TTV's announcement of 13th March contained details of the mess it is in with its share subscription agreement and Priority One (PON).

The announcement contained the unusually blunt statement: "Two Way and PON have agreed new terms which required an immediate payment of $150,000 in cash by PON which will be in Two Way bank account by Wednesday 14th March 2012."

Does anybody know whether PON did pay up?

TTV's announcement also points out that PON owes a balance of $700,000 in cash on completion of successful listing. PON has told TTV that it expects to list by 30th April 2012.

Those followers of this forum, who don't follow GCN, may be surprised to learn that GCN in its half-yearly announcement of 29th February, says: "The due diligence team to take care of the proposed ASX listing is working on completing the listing assignment before 30 June 2012."

So I would not be confident that TTV will receive the balance of $700,000 by 30th April.