Have a think about what will happen when they eventually get...

Have a think about what will happen when they eventually get around to paying a div. Yes, it sounds great that the companies have taken shares in lieu of debt, and Ray has a large amount in lieu of the debt owed to Mr Gloss. The assumption would be that the shares will appreciate in value and thereby give the creditors back what they have lost. But if you throw in a dividend, then they really clean up, and so do all the shareholders who stick with the company. A year down the track, I can see the issue of a dividend really lighting a fire under this stock.