I think the financing in the US was through the largest...

I think the financing in the US was through the largest shareholder who ended up taking over the company for the debt owed.Very good deal-for them.

Sep 08 was the first profit announcement ($166,000) announced 31 Oct 08 and then they were in receivership by January 2009!They hired three firms to aid in fund raising, the third was two weeks before voluntary administration!

The "new" Australian operations are not connected to the US business, except maybe through payment of a licensing fee for use of the technology in Australia.Josh Goldman, prior managing director, is still hard at work with the US company.

There was never an offer of a capital raising from ordinary shareholders who saw there investment given away.

I doubt I will take up any shares in the new IPO as this is my second loss on aquaculture companies. Possible big profits for the financier (company managed by the AAQ executive chairman). I'll keep an eye on it and hope it survives.