i disagree, its far from game over -- i'd say it more like game-on.
the loan amount brt needs is small fry compared to what the large corporates need to stay afloat. this works in BRT's advantage, as its easier to raise $4mil compared to $400mil.
on bales (joined 30/04/08 and has nil BRT shares) and bernstein (five months earlier with minimal shares) - did u all not realise the terms to their arrangement called for 1 months notice before resigning. given that there is a 3-4 week period until the "VA" deadline, this means that both of these would still be employed until AFTER this deadline hits.
read between the lines: they were pushed.
current SP dipping to current levels?
read between the lines: bernstein dumped his 400,000 shares & 1,000,000 options.
Following DD finalised, there is the small matter of the "inter creditor agreement" people seem to be worried about.
An ICA is, by definition, an agreement between two creditors agreeing in advance how their competing interests in their common borrower will be dealt.
That is all.
This, by assumption, following the DD completion, one could conclude is a done-deal. Business does not stop overnight because some of the fat cats are falling over. Totally different markets in my books.
Game On.
BRT Price at posting:
2.5¢ Sentiment: Buy Disclosure: Held
