new offer from gold coast consortium, page-28

i agree with you, but maybe the damage is already done! Can you imagine a rights offering @ .40 and raising 200 million- the dilution is like a "death spiral". The shareholders did nothing wrong except believe in a management team that could complete the task. Just a bad roll of the dice. I do know that regardless of the outcome of this bad dream is that name "billabong" will survive-- not sure about anything else. Yes the still have rev of 1.3 billion but with that sales come losses. Maybe you are right that they run out of cash during May- could be a rumor, but once a stock is in feel fall and the shorts have destroyed you it is very difficult to come back. I think the real problem is for months and months let firm see your books and then keep lowering the price. In the US this would not happen - a price announced is the price! The au regulators allowed the shareholders to be destroyed - they did not protect the shareholders because of the process! Again, i feel sorry for the public shareholder-- they actually believed while i question management considering the format of trying to sell the company