Originally posted by scherobiOriginally posted by Invested12I...

Originally posted by scherobi

Originally posted by Invested12

I think the Greensills Facility should be explained correctly for the sake of all the Mum and Dad investors a position I feel management should have addressed within the same week Greensill's made news of going into administration, other public companies did.
I sold out of FOD on the same day Greensill's made news and based on the circled box above.

The way the Loan Facility reads above of which the Administrator is custodian of.
- FOD has a debt of 6.4mil with an interest rate of 7.75% PA.
- Administrator holds security over all current and future assets including receivables(payments from customers).
- Cash on a balance sheet is an asset, 3.644mil(based on above held by Administrator as security)

Management have had 2 months to organise a new loan. Share Holders should be emailing the BOD for an update, until the facility is resolved sugar coated posts are meaningless.

Good Luck to holders hope it gets sorted.