Hey look I have spoken to a fair few people about this one that should know something today. All the while going through the seven stages of grief.
The company is still in shape behind the scenes, there is 10m or so in inventories, multi millions in recievables and still agreements out there that weren't far off for sales and distribution, or so I am led to believe.
This is very bad optics though and I think DM needs to come back in a sales capacity and would probably do that for love given the size of his holding.
But I am comfortable there are enough parties with some clout out there watching, that this should make it back in some way, shape or form. There will not be an under the table bargain basement offer to pick the bones clean IMO. I would expect some serious dilution, greater than 50% but if the business is worth around 40m or so and they have stock of 10m recievables and orders in progress of 3 to 5 m they can dilute us and capitalise the company and with a new CEO, some stability, maybe the company makes it back as a more appealing entity.
Will be an interesting month ahead, if it drags on for two, or three with nothing, I would consider it a dead duck.
Keep in mind they still need to report on the monthly 4c's so we will still get a bead on how things are tracking.
BUD Price at posting:
0.6¢ Sentiment: None Disclosure: Held
