BLV 0.00% 1.6¢ blossomvale holdings ltd

voting on cap raising, page-8

  1. 3,062 Posts.
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    Anthony - Depending on what the prospectus says I probably would if I had the money but I havent because I had absolutely everything in NMS except for very small amounts in some other gold stocks. Basically I need Neptune to survive so I can get funds to start again and get myself out of the financial trouble I have got myself into.

    I really do not think too much is wrong with Neptune. I think it has been these factors that got it into trouble:

    1) I think the board thought they would have no issues raising further funds mid 2010 but left it a little too late getting it sorted. They should have started the process in Feb / Mar 2010.

    2) Also in Feb/Mar did a complete review of the business model / structure to improve it after the STS purchase.

    3) I think also the Ex Owners / managers have not been kind to Neptune and have probably been working against the overall business. It is never a good idea to have ex owners running a business because they nearly always have hidden agenda's if they dont get there way. Look at what has now happened, they are holding Neptune to ramsom and really I think it is these ex owners that are calling the shots currently. They could get their old businesses back for next to nothing.

    Truthfully Anthony I think Neptune currently has a barrell pointed at its head and it is others that are calling the shots. My gut feeling is Neptune wants to raise the $80 Million to get rid of all these Ex Owners and the banks and move forward. It is a hurdle but if they can pull this off I think they will survive and go onto better things. It is just that current shareholders are the one's paying the price for their current situation but hey at the end of the day, we all know this can potentially happen with any stock on the ASX.

 
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