No-one would dispute that shorting is fraught with risk.It's in...

No-one would dispute that shorting is fraught with risk.

It's in the same category as writing calls: unlimited downside on the position.

With Norwood it's a dead argument, as you well know.

As you also know, Norwood is severely underwater.

Instead of pursuing the short scenario, how about your thoughts on the net liabilities as a September 30 ?

You could allow for the Tarrant convertible notes, income from Infosys, proportion payable of Spark purchase order, salaries and any other factor you think relevant .

As my sadly departed colleague Rene told me, cash is king,