my bbi valuation / dbct sale flows, page-81

Dargie is saying that 50c is unlikely because of the fear of dilution by Beppa conversion... the catch 22 situation (dear I say death spiral).

The only way to alleviate the fear is for there to be a real chance of BBI being able to prevent the conversion. IMO they do this by ...
1) Buying back as much Beppa as they can below $1.10ish
2) Attempting a restructure
3) Selling more assets to free up cash and make banks more comfortable.

Strangely, I think Dargie is entirely correct about the BBI price being held below 50c while Beppa conversion is a threat. Beppa is the place to be right now, no question for me.