Yes Oogee, that is the way I interpreted the financial deal. The patents are the collateral. Can you imagine, that this management went out on the limb and did such a thing? Leon Pierhal must go, cause he is not capable of leading this company to the next phase. he has clearly demonstrated that with the continuous number of blunders he has made. What happen to GrowthPoint Technology Partners ( GPT) we they not to appointed and paid to ADVISE this direction-less management??? That is a question for the AGM.
Obviously they had to restructure at the rate they were carelessly burning through stakeholders money. This management is a poor excuse for a company. I hope that SAM et al. can straighten these clowns out. Its obvious that GPT has done squat.