All good questions and I guess that why the RM were appointed to insure that the operation continues to protect the interests of the JV partner. I would feel confident that your questions are being addressed by the R/M and our ever diminishing investments are being protected by the JV partner who is after all a shareholder like us.
As Cuzo points out its not the JV and the operation we should be concerned with it is the possibility of the continuation of the current board and the senior management.
Believe it or not we still have a profitable company and we can get out of this mess. Here are some figures that I would like some comment on
Sales revenue compass share reduced by 1/3 for next three years to repay HNC debt (as part of a possible DOCA:
Per year Analysis for 3 years
Revenue (2/3 90 million) = 60 million
OPEX (1/3 reduction of 60 mill) = 40 million
Shareholders and creditors = 15 million
Based on a dividend stream of 5 cents per share for three years per year
Surplus = 5 million
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