Just a quick sign in guys. It's hard to start being happy when the price is under 5c.
I will not be celebrating until asset sales pay down corporate debt and dividends are re-instated.
If things go our way, BBI could be looking to re-instate divs in 2009/10. It will only be time to celebrate when the stock is at 50c+ and paying 8c-10c per annum in distributions.
That is very possible if corporate debt can be eliminated (saving around 80M a year in interest).
Once BNB officially dies (could be today), BNB can then go about negotiating with the administrator of BNB to purchase BBIS, thus ensuring management fees are internalised at minimal cost and there is no BEPPA conversion.
That would save another $100M a year. Once that is all bedded down, a dividend of 8c+ is very reasonable. I see this potentially happening in a 12 month time frame, albeit with significant hurdles to jump.
Long way to go boys and girls.
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