Well that is a first I was moderated.Let me put it in...

Well that is a first I was moderated.

Let me put it in unmoderated language for the poor sensitive soul who moderates this . That is no vaseline or similar comments.

Both Plough and I know who set this whole debacle up and has precipitated this demolition of shareholder value. Their time will come!

But what is really interesting is what the hell was going on leading up to the previously secret $2m TTY loan availed of by the rocket scientists of OLY.

By any measure significant questions should have been asked at today's EGM of this board's understanding of the meaning of the term solvency. Alas no-one did. Maybe they did not want to cause accute embarassment.

As at 28/2, by my assessment they had creditors of around $1m and no cash to pay them. Must have been an anxious wait for TTY to sign the "commercial terms" loan agreement, which duly occurred on 29/2. But of course shoosh, dont tell the shareholders about the loan because they actually fund and own the company.

Today's EGM was for once a dull affair, but needless to say a poll was called (no doubt those pesky TTY guys)for the snouts in trough resolutions. Fearless Chairman Mal assured the long suffering shareholders that the results would be released with the ASX by 3.00pm, but the chardonay grapes must have needed urgent attention at Mal's Margaret River ranch because no release was issued.

But then when have they ever met a deadline of late. Hate to create a precedent and actually do something on time.

Will keep up the saving face routine until TTY roll them over, but there is no smoking gun with this mob. Of course remember..it's other people's money, rule number 1 of those who set up lifestyle companies.

Good potential but ultimately destroyed by a disfunctional board.

At least its a cash offer and not scip..that might have caused the expert real grief if he had to take a long hard look at that empire.

Hope that is okay Mr Moderator?