You own shares in BUD, which is effectively an umbrella company for its subsidiaries. Buddy Ohm is worthless as its revenues were about $140k for the HY to Dec 21 (a decline from over $700k)!!! The only possibility of value extraction is LIFX, but again its revenues are in terminal decline and the business is in dire need of capital to turn things around.
What would you pay for a company that could not cover its costs on $40m annual revenue, when that revenue has fallen to an estimated $20m or less in just two years? Meanwhile, fixed costs are increasing materially.
The only reason PFG put this into receivership and seek to sell off the company is that they reached a point where they had to limit their losses. PFG won't be expecting to recoup the entire debt. In the unlikely event BUD is recapitalised, any existing shareholder will likely be diluted by 100 times or more.
BUD Price at posting:
0.6¢ Sentiment: Sell Disclosure: Not Held
