All this speculation between posters is primarily caused by the ADO board not giving a clear picture of their intentions, nor the intended path ADO/DIA will take. We don't know the facts so we surmise.
I sincerely doubt we will face any liquidators/administrators over our perceived debt level, as wheels are in place to move us away from that position. It appears they have been for some months now.
Again we can only speculate from the minimal information released to SH but the appointment of a European adviser which could have been to raise further finance, is looking more likely to be assisting with finalising a full DIAsource sale . These deals can take anything upto 12 months to complete and it would be my guess that the ADO board have been negotiating this position as the principal strategy for sometime now, resulting in the earlier Bergen termination.
The most likely buyer for DIA will come from those original suitors that were competing against us at the time ADO bought it. It could also be speculated that the DIA vendors are the principals in this renegotiation, hence the appointment of a European adviser to report directly to the ADO board on the best way to finalise favourable terms.
As @dubspec pointed out with finance/debt projections, our current position looks delicate. Therefore, we need to have it ended by the new date of 2 October 2017 or we may have a problem.
If we are/have been in negotiations for sometime with potential buyers, then it is highly unlikely we will have a fire sale on our hands as many predict. Therefore, we should receive fair value for the sale and hopefully after clearing all debt, leave ADO with a $10-15M surplus. If so, we will be in reasonable shape moving forward with cash on hand to negotiate future Mix&Go deals from a position of strength.
It's not my opinion that our BOD are incapable, however, they are appalling communicators and that is half the reason we suffer with a MC at such low levels. Hopefully, they will get our company back onto the Mix&Go track, together with a likely affiliation/announcement from Anteo Energy in due course and a corresponding jump in share price.
Faith&Patience is the physical alternative to Mix&Go
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- Ann: Revised Payment Arrangements with DIAsource Vendors
Ann: Revised Payment Arrangements with DIAsource Vendors, page-157
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