My take from AGM, page-32

If I was a shorter, I think it would be a safe bet considering they have zero prospects of improving cash flow for the next 12-15 months, and their main focus till q1 2018 will be surviving

This quindell disaster will drag them down for another 2-3 years

Anyway I am not a shorter, never have been, I do occasionally trade CFD's but calling a sell there has no impact on the real market

Is that justification enough for you, or do you need something else to clarify the bleeding obvious?