we have nothing to fear - but fear itself, page-4

>At 25c, the market has shareholders equity at $92 >million,not near 2 billion.

Market capitalisation is irrelevant ... shareholders equity is basically net assets minus net liabilities.

>Is goodwill 320 million? Can goodwill be a negative >figure,to be subtracted from other assets?

Goodwill is not a Tier 1 or 2 asset from a capital adequacy perspective.

>Capital gains on assets? In the present market, these >might be losses,to be subtracted in the books.

There will be losses, but there will also be gains. If the assets are high quality and reported in the books at cost minus impairment - we can expect a good outcome if it comes down to asset sales.

BNB is vastly complex. It would be completely premature to pull the pin on BNB, at this stage in the efforts to reorganise.

The deal makers are gone from BNB - the bankers and accountants are now in control. BNB has the prospect of a more conservative future ... but a future, none the less.