new ann out...multiple interested parties

At first sight many positives with some negatives:

Multiple interest by 3rd parties...due diligence going full steam ahead within exclusive period for one.
Going for share placement at 47c to support short-term difficulties and re-structure - dilution evident
Underlying businesses cashflow positive - although group negative/break-even.
Bank fully supportive
NPAT for year likely to be - $4m

My ssessment - company in growth stage that lost its way with BLU portal - which is being shelved and asssociated costs.

BLU I think has strong positioning in marketplace - owning much of space.

Again MY assessment and thoughts only......placement at 47c woudl not have gone ahed if the offers on the table weren't good for shareholders....although no details have been released.....

I think SP will fall initially but after due diligence of potential suitor nears completion it will rise - what will SP be in the future - very hard to say - but with high multiples being offered for internet based bsuinesses and the ownership of strong pan -asian distribution.....it could be good - but with Mac Bank having built up stake (as have Orion) and tight share register....I think we coudl be in for a nice surprise medium term.

Pse DYOR - you don't know my agenda