An Investment cas, page-28

Look, in case someone tries to brand me a downramper, I'm not trying to be unnecessarily worrisome here. I just hate hate HATE being unsure about management. I agree with you on all points eg

• it's cheap as hell. I mean, compare it to DDH1 - MSV is trading at half the multiple that DDH1 is IPOing at
• directors have said expressly they will buy now that they can
• a 'statutory demand' is a type of debt recovery mechanism that you're not meant to use unless there's no real dispute over whether the money is owed. Not only that but to even deliver one, you need a senior person to go on oath and say they think there's no real dispute about the debt. So seemingly MSV think the $9m is owed, full stop. https://www.fedcourt.gov.au/forms-and-fees/forms/corporations-rules/corpform7.doc
• the runway looks very good, MSV's commentary has been extremely bullish
• surely Neil Mitchell's interests are pretty well aligned with ours, given he owns about 18%
• huge FCF, over $10m in 1H. So cash generation is already gold

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