The other scenario that crossed my mind is what if AL did the dishonorable thing by shareholders and entered into this debt funding solely for the purpose of doing the honorable thing by its staff and having enough money there to be able to pay out their redundancies/entitlements/Annual Leave etc...
Ie: Once everyone is paid, the white flag is waived and then lights off...the VA gets called in with Aeris only owing SOL $50m and nothing else. SOL would be comfortable with this as they pick up the assets for nothing in either event of a DoCA or liquidation. Everyone wins except shareholders.
If not, why would Andre not be buying on Market at these levels at multi year lows??? Because in current form AIS is uninvestable, even for the CEO on $1.52 salary.
I sold out this afternoon at a 70% loss. I was going to keep AIS as a tax loss seller in May/June '24 but am legitimately concerning whether or not it will still be trading by then.
AIS is not dead yet In my view, the chances of this ever recovering are very slim.
(20min delay)