I hope it is the Australian government giving these turkeys grants not the NZ government.
More of the same selling assets and raising debt to pay operating costs. The sale of shares in Invert Roboitics (one of the only investments really performing) will give them a little more time to crash.
But the following quarter (Oct - Dec) from memory has the first lot of convertible notes due and they are not converting at 32 cents a share. So will need to either re-negoitate that or get some more asset sales away. I think the only "off-market" company left is Mars, and the only other one that probably could be sold would be Invert Robotics.
It is a shame that the directors and mangament still do not realise that the model they have is broken and that a radical cut in costs is a must.....maybe even getting this de-listed. Then to hold the good assets and hope that they pay off over the next 3 - 5 years.
PVL Price at posting:
19.0¢ Sentiment: Sell Disclosure: Not Held
