Not as bad as I was expecting. Actually the latest sale is expected to provide working capital till end of 2012, which extends the lifeline, while also contributing to reducing our debt.
And NTA after dilution is 17c (x50 consolidation) = $8.50.
If the board's able to secure alternative funding from the latest round of release from the Japanese govt policy to pay off that mezzanine debt, we'd be sitting alot prettier.
Alot more to digest, but that's the 2min skim read I had.
GJT Price at posting:
$1.35 Sentiment: Hold Disclosure: Held
