I really don't know about that Rubi; as Megas intentions are just so opaque. are they a secured creditor in any way? in which case they could run it into the ground and get first dibs at recapping it which could be very attractive for them.
At the end of the day, one of the risk factors in Investing in Microcaps 101 is weird dodgy capital structures. Just got to live with this weird set up and pray for the best.
Just an idea - TOE has been listed on ASX for a very long time. There must be a heap of ex-TOE senior employees that must be at other jobs now. Wonder what they might say over a beer when the topic of TOE's strategy or cap structure is raised. Maybe they know something historically about why it was put in place and hence what current thinking might be from Mega.
TOE Price at posting:
17.5¢ Sentiment: Hold Disclosure: Not Held
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