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Ann: Administrators Appointed, page-7

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dbd25

6,738 Posts.

2534

01/07/24

09:27

Post #: 74541946
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Originally posted by Aqil: ↑

The fact that CAI voluntarily appointed administrators supports the argument that MAH submitted a letter of demand and threatened legal action if unpaid within X days.

If the receiver is to be believed, we had $20M in cash at the end of the June quarter, compared to a cash balance of $8M in prior quarter. Our debt to MAH probably stands around $30M. Fulfilling our obligation to them in full would have made CAI insolvent.

I've mentally written-off my investment but interesting to see how this pans out.

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a swift kick in the academicals to all CAI shareholders

all imho

CAI Price at posting: 11.5¢ Sentiment: Sell Disclosure: Held
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