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Originally posted by pikel1980
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Why? If they are on a downward spiral and you cannot realise any of the cash, then its not worth it. Businesses that operate in this market (ie raising capital on behalf of others and charging fees) rely upon TRUST and INTEGRITY, and Glaucus came out and stated that Blue Sky had neither. Blue Sky has not yet addressed the concerns of either Glaucus nor the market in general - hence the share price. Now if the market isn't impressed with Blue Sky's representations, their ability to raise more capital and generate new funds / deals is going to be in serious jeopardy. When that becomes clear then their revenue will dry up and the business will probably loose money, based on their last half year report, the company spends about $60 million a year to run (so about 2.5 years of cash), and that is before the prospect of a shareholder class action...
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I think they have learnt their lesson. Had conference calls for investors on each project on Monday and Management staging meetings in State Capitals next week, Sydney on the 10th.
Last edited by
Birmie :
01/05/18
