receivers/managers appointed, page-16

trade4, your basic mistake was assuming there was a viable business plan there just because Rentworks obviously inexperienced executive/s got sucked in.

Here was a small, new, undercapitalised company saying in their prospectus that they are going to instal systems at half the cost of their competitors, systems that were far superior particularly in the infringement capture and conversion rates and these systems would allow them to become cash flow positive and profitable FIVE times faster than their competitors (at 25 systems live instead of the industry proven average of about 125 live).
Even a brief look at the early days of Redflex when these people were heading up the Traffic division was enough to ring loud warning bells, that plus those hugely overblown claims in the prospectus had to make all but the most naive investors very wary.
A number of posters on HC have made it very plain for a long time, Paul100 particularly accurately analysed the company and its prospects right from the start.

If you were quick enough it was a good trade early on but to even contemplate investing in TNC during the last few months gave a high risk of financial suicide. But then I guess the shrewdies need some mugs to offload their shares to.