Mitch Flegg Email18 Nov 2016 19:51
Email response I had from Mitch Flegg a week ago when I emailed via website to request an update:
The company has a huge amount of debt that was borrowed from banks and
institutions in 2013 & 2014.
When we sell the assets, this debt will be paid back first and in theory
anything left over would be distributed to shareholders. Unfortunately I do
not think the sale of assets will raise enough money to cover the level of
debt and so there is unlikely to be anything left over for shareholders.
Regards
Mitch