answers required now, page-39

- the way this CR is done is an absurd: if this alone does not ring ALARM bells shouting "leave, back off, do not touch" for you then what would ?
- did you wonder WHY the 'offer' is NOT UNDERWRITTEN ? Answer: because there was no financial institution that would agree to do that. And further 'why' : because they would be throwing GOOD money away.
- there is a statement in GM NOTICE that the shortfall may be placed at directors discretion : but no details are given ! So for example : can they distribute that at say 0.1 cents each ?
- it is a panic attempt not to go bankrupt. But they will not raise even near $60m min they require.
- I read many other NMS posts and ~ 1/5 of people were ready to participate in this CR. So they will raise may be $15m ... $20m, far cry from 60m they want
- directors proved again that they still can not be trusted: announcement on 25 Jan 2011 with new delays and the rest: they have just written down $99.5 mln !
- why directors do not clearly state in latest announcement NMS's financial position, some explanation as per how they ended up in that position, quote some assets vs current liabilities data, how much are ships and equipment worth, etc ?
- since 2004 the number of shares grew almost 12 folds : from 37m to 435m. And now they will dilute by another 3.6 times !!! This stock will become a proverbial toilet paper : there will be almost 1.6 bln (billion !) shares on issue ! People : notice that number ! They raised money so many times - it seems to never end
- that means that all new subscribers will generally participate in a kind of an IPO, not in true CR. But this IPO is easier to asses than ordinary IPO - we all know that management is bad, and this information alone is worth a lot
- somebody said: "if banks [NAB] deem the business too risky and are asking for all their money back, then it shall be too risky for the average shareholder"
- I lost a few $k on NMS (considering shares are now worth $ 0) and I do NOT intend to loose one cent more. I agree with one of the posts : "why save the banks, by taking money from existing shareholders to give to them". I'd rather invest that money elsewhere (after very careful analysis !)
- LESSON learned: before checking stock price history, cash flow etc : CHECK MANAGEMENT QUALITY or the lack of it.