Ann: Appointment of Receivers and Managers, page-97

My gut feel is recapitalisation. This was a voluntary receivership. I’m betting that DM and Ric saw the writing on the wall and already know who’s going to do it. The motivation is the stack of shares they own. I can’t see them throwing away all their shares and work without a bail out plan. Doing a recap will reset everything to a normal level so LIFX can continue its growth. Nearly all the lights in my house are LIFX. Never had any issues, I believe the product is exceptional. Anyway, just my take on things.