The way I summarise 1. BDT pick a fight with their major supplier, accusing Bolin of stealinG, yes stealing US$3.3m CASH 2. BDT spend 12 months launching various court filings in USA and Australia at a cost of A$1.5 - 2m 3. BDT settle all legal action with payment of US$1.6m to Bolin ( assume this is their legal costs) 4. BOLIN keep US$3.3m 5. BDT to take delivery of US$1.6m of product manufactured by BOLIN
In the mean time BDT have launched a new, "BETTER" range of cameras. The BOLIN cameras are old technology so good luck getting US$1.6 for them if anything Suppose this means BOLIN did not steal the money and it was a misunderstanding at best .
this has cost BDT shareholder $A9m !!!
CONGRATULATIONS TO THE BOARD AND MANAGEMENT.
Joanne Moss. Andrew Baxter and Peter Cooke have already resigned from the Board of Directors.
John Dixon, Daniel Miall and Barry Calnon.....TIME TO GO
BDT Price at posting:
8.0¢ Sentiment: None Disclosure: Not Held
