Oh please. This is the same bs day in day out. Because there is an institution invested the company can't go broke because institutions never back a losing horse.
This may take you by surprise but any company that goes broke has shareholders. This is by definition.
Norwood has been on life support with a drip feed from investors pending the result of the Spark contact and to see if there are further deals as advised by Norwood to the ASX.
The day that the tap gets turned off by investors is the day Norwood goes broke. At the moment every shareholder is relying on other investors to keep pumping money in. Those that are more heavily invested than others have more to lose and may see value in protecting their investment by contributing.
Certainly the last general raise offered to all shareholders proved that most holders are happy to let the company sink. The rights issue was hugely undersubscribed.
NOR Price at posting:
2.7¢ Sentiment: Sell Disclosure: Not Held
