This raises alot more questions than answers.
This board and mgt is now unbankable IMHO
BFS ? Kidding right...who will put down money for the BFS ? Needs a new owner before that happens.
Steve and the board sure has some explaining to do with ASIC also from all their pumping for last year and full holdings share sales. Wow.
Big fund managers have lost big money bc of Steve and this board and they will want blood and will get it.
The Ford deal is sadly also just an MOU...they will also want full due diligence now.
AFR are going to go nuts on this for months like they did with NXL ....and rightly so. AFR article today is rightly scathing. I wish I had seen it sooner. Grateful for the AFR showing what's going on actually, even with a big loss. Better than a wipeout i figured. I hope holding on works for those with huge ability to stomach scandal.... but on the ASX these don't often end well is my experience. GLTAH.
$111m cash won't cover much from the pending shareholder lawsuit that could come from this either.
$1bn+ in retail wealth gone since March bc of these guys.
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