Hi
@bagavond not sure where the SP will go and not going to try and predict it.
I am not a buyer at any price. I've got concerns about management and their choice to do business with a small bank in Europe that had a clear history of lending and AML related issues. DYOR on them. There are serious allegations against them. Is that the only place they could find to take them on in their "discounted retail" arrangement to keep revenue going and to magically pass $5m by $1000 (excluding R&D and interest rev)?
This is being spun as a CR for ADI requirements (which is partially true) but the urgency of it is IMO that cash is running out due to money getting tied up in suspended accounts in Europe and other money being sent back up the supply chain and diverted to other networks.
I also question $6m Cap Ex guidance for next year. Can't see it being that low. Staff costs alone will be pushing the next year.
Anyway, I've only got a small exposure left in this so will just let it sit there as a punt.
GH - the term sheet indicates the funds were for more than just ADI requirements. It is nieve to think the timing of this CR had no correlation to the announcment from the day before (money being suspended in accountsaccou they may not get back and other expected money diverted off network).
