bruising fall

Ouch! Down 10% today to a new all time low. Someone was keen to get out.

As for the legal team... I don't know if it's correct that CMQ had to shop around, but that's the great thing about lawyers isn't it, you can always find one who will agree with you for the right price, even in the face of overwhelming evidence to the contrary.

Prospects just aren't great at the moment. If they get the injunction, uncertainty will prevail until "sometime" next year, cash running out all the while and no new sales on the horizon. This makes it pretty unlikely that they would get a capital raising away, and likewise being able to borrow some dosh even if the bondholders approve it.

Upcoming events:
November 24: Harmony may commence action to get their $10mil
November 29: CMQ apply for injunction
November 30: AGM
December 1: Stark may commence action to get their $50mil if CMQ don't manage to get the injunction
December 5: We hear from PCAS if they intend to go ahead with the manufacturing and/or European distribution. It's only 2 weeks away now and it may be a little concerning that they haven't jumped on this opportunity and said yes early.