goneeee, page-19

its all a bit strange, as the EzyDVD deal done in September was legally binding, but EzyDVD insisted upon changes be made into a new agreement (signed last month) which apparently included removal of penalties for non performance by EzyDVD, transfer of IP from MOL to RMA, and some other comments ex EzyDVD lawyers and Deloittes.

The RMA board fell for it - and you cant blame Karantzis, as he was apparently in europe until last week. What I do know is that Karantzis went ballistic at the RMA board for having giving it all away, as the original agreement had a separation of responsibilities - RMA the tech, delivery, and remain the contract holder with Hollywood, with EzyDVD marketing and using its buying power to leverage Hollywood for the benefit of RMA. These were in place to keep Zavos honest, so he wouldnt have full access, as the development/R&D/learning curve is steep and expensive. The ASX release in early november also confirms the Age and News reports from yesterday and today, that there was $4m available to RMA ex Cornell.

Seems that Alistair MacKinlay (Executive Director since the initial float up until last week), wasnt as sharp as he thought he was - and was hoodwinked by Zavos totally. Wilshire, from what I hear, is a complete moron - and set up for the job by Zavos.

Sounds like Machiavelli would have struggled in this environment, with plots and counter plots - all run by a very shrewd businessman Zavos, his pup Wilshire and a naif board of Johnston, Brown and MacKinlay.

Now Zavos will "steal" $7m of assets/R&D for a song ex the administrator.

And no, Im not that close to the action, but, Wilshire and Zavos have been doing the rounds of late, and this is pieced from their comments/discussions to various institutions, investors and advisors - as well as some staff comments.

Pathetic.