Be cautious as to what management says as they are cheer leaders. How can management be managing cash carefully when they keep on hiring with questionable ability to pay debts as and when they fall due? Has there been insolvent trading or are creditors agreeing to a delay in payment as there are seemingly few if any alternatives?
Remember management also said they "led" the February placement which they then withdrew from after the share price collapsed again. Do you think the market was trading misinformed after the placement and before they said they would no longer participate? Shareholders have lost a lot of money (likely a future chapter to consider). So why do you place weight in managements opinions now?
The boiling frogs on HC will most likely shout me down again or block me (ie blinkers on) but they have few alternatives as well. Facts matter.
IMO DYOR
CDX Price at posting:
16.5¢ Sentiment: None Disclosure: Not Held
