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tprchris

479 Posts.

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31/08/18

16:02

Post #: 35332811
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Originally posted by Cbz8 ↑

I also noted this last night - I was wondering what the 'foot' on the neck of Spookfish was, that the directors would recommend the .08 bid as a good offer. I initially suspected there may have been an issue with the technology and coupled with the potential cash flow crisis (and issues with capital raising given current investor sentiment after the bid was announced), however this part of the agreement (which I note I have never seen reference to before!) seems to be it. The board seems to have stitched up the company entirely - first by agreeing to royalties being paid by reference to some subjective measuring stick that EV has control over determining, putting SFI into a terrible cash flow situation - and secondly, by allowing them again to determine if and when refunds will be paid if they decide to return the camera systems for ANY REASON. This is obviously the threat occurring at the moment - agree to our bid or we'll return your camera systems and probably just buy them from the liquidator. Marinko, Robinson and the rest of the board need to be replaced immediately. And without sounding like a complete conspiracy theorist, what personal benefits are they getting from this deal under their new employment arrangements. I hope the whole little scheme is disrupted and a decent price put the shares.

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SFI Price at posting: 7.6¢ Sentiment: Hold Disclosure: Held
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