Sitting Duck

Well, if there was ever an opportunistic time for a takeover - this is it.
Classic situation

- share price at lowest ever level
- SP sitting at about cash on hand level
- sales performance below promised to mkt
- little confidence in incumbent board and mgt
- mkt and shareholders clearly have lost confidence in board, mgt and operations
- business valued by market at near zilch
- business operating (according to media commentary) at near cashflow breakevemn
- management and board in turmoil
- S249D meeting called to spill 75% of board
- nominees having no retail experience - so prospect of turmoil continuing until YOW operations show continuity of cashflow positive and/or profitability
- pretty much a wide open share register
- major Institutional shareholders probably happy to exit at a certain price. Got no idea what that is, but one big s/h has already started selling, even before sales downgrade.

With the YOW business virtually valued at nothing by the mkt, it would allow a more skilled management to come in and get the business operating to a level which was profitable.
In spite of what some HC "experts" opine, YOW business is turning over around A$30m, is supposedly nearing cashflow breakeven - it is in tens thousands of stores in US, including prime positions in worlds biggest retailer.
The problem for us is, that any t/o now would be based on some multiple of the current crappy share price!
No point in bidding when SP is at all time highs - kick when they are down is how these opportunistic players work.