Why would 'the banks crack the sh^t5, and call on their debt' now? Do the circumstances changed within one month? The half-year report was released 4 weeks ago.
'iSOFT reports $84m loss' Published 4:53 PM, 25 Feb 2011
iSOFT Group Ltd reported a net loss of $84.1 million for the six months to December 31, 2010 compared to profit of $4.82 million a year earlier.
Revenue was down 27% to $162.7 million. No dividend was declared. NTA backing was negative .23c, unchanged from last year.
During the half the company was not able to meet debt facility conditions, and as a result a bring-forward trigger was exercised. The company sold iSOFT Business Solutions in December 2010 for $A31.5 million, which was used to partly pay down this bridge facility, which remains drawn to stg13.9 million ($A22.1 million) at balance date.
Directors believe the company will be able to pay its debts as and when they fall due and that facilities which fall due within twelve months will be repaid from operating cashflows and certain cash management initiatives.
Why would the directors buy shares on market, if they new ISF were be broken:
iSOFT Group director buys on-market Source: News Bites iSOFT Group Ltd director Ronald Charles Series indirectly bought 400,000 shares for $30,053 on-market on December 29, 2010.
Source: News Bites iSoft Group Ltd director Peter John Housden indirectly bought 125,000 shares for $10,125 on-market on December 1, 2010. He indirectly holds 125,000 shares.
ISF Price at posting:
5.2¢ Sentiment: Hold Disclosure: Held
