Chair/Directors,
Under your guidance BFC has run up sizeable tax losses.
With latest Capital raise - approx $28m - does BFC still have the ability to fully use the accrued tax losses.
Please advise (anyone can contribute) on,
- does BFC pass the continuity of ownership test
- does BFC pass the continuity of business test.
Post Capital raise what is NAB exposure to BFC. Today looks like $50m++, post Capital raise ($16m to retire Debt) so NAB is down to $34m and holds a charge over BFC.
Board, go peacefully now before 2nd strike.