I always thought Cap raise is coming and it will be at around...

I always thought Cap raise is coming and it will be at around that price not 15 c floated by htran.

If it trades above the issue price, some people will jump in for a quick buck. Remember that Somboon will be putting his money in as well. That's a positive in my opinion. I always thought that why won't someone come in and pick up a distressed asset at rock bottom price. I believe he is in for the long haul. He made 400-500 mil AUD. With another 10-20 mil he is getting almost get back his asset AND get another vietnam casino. Unbelievably smart and at the same time lucky for him. The scenario of him screwing SV is much less likely now in my opinion.His sons are on the board now. Being on a board of an ASX traded company bring some legitimacy and cachet for his family. If he planned to screw SV, the immediate next move is to dump all shares and use other underhanded way to get back SV or buy from liquidator next to nothing.

The only bummer is the potential cap raising if covid is still as bad. But what if it is normalising, it might be higher than 3.5c because market is forward looking. If the border opened and things are not negative cashflow, investor and creditor will be willing to assess it as going concern. Covenant is really a technicality issue. If Megabank willing to waive this round with 10mil usd more amount owing, why not the next round.

https://en.vietnamplus.vn/cambodia-thailand-discuss-border-reopening-to-recover-economy/177890.vnp

I think everyone is hurting if things continue. The bet now is really how fast things will normalise. The Somboon risk is lesser now imho.