Did the Directors make the buy in before or after they spent $ 120M on IBR?
The purchase of IBR without DD; then the rights issue at 0.11, and then shortly after, the write-off of $120M on the IBR, have been the most incompetent management decisions I have seen for a long time.
It would not surprise me to discover other reasons, other than blatent incompetence, for these actions.
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game over, page-55
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