If the reported 90% failure rate of the batteries are true, then...

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Cosmoterios

18,350 Posts.

2605

18/12/23

10:26

Post #: 71501864
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Originally posted by Slogger: ↑

thanks - hmm so they will keep market informed of all material issues regarding this matter - like you (the board) have all along with details of the misfiring batteries? and those other ANN's that did not appear to have been followed up).

how can that be trusted? we need details of ALL material facts not just the bits that the board wants to "talk about".)

and to say that it is not possible to advise or provide a scenario regarding financial implications on MNS well that just like the recent refugee fiasco where the govt had pre knowledge that they were going to lose the court case and yet had no plab B in place! why not able to advise:

1) did MNS provide a loan guarantee?. if so then let us know what will happen under two scenarios - if its called upon and if its not called upon;
2) if no loan guarantee provided will there be repercussions from the lender or c4v or any other party on MNS?;
3) how much time/$'s have been invested here at the expense of nachu development?. geez what a bad move!!!
4) will management be reducing (considerably) their take home pay given this stuff up?.

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If the reported 90% failure rate of the batteries are true, then you really have to ask, why they haven't picked this up in the 7 plus years the company did, in testing and analysis???

Surely, the people who did the evaluation of the batteries would have picked it up?

Given the situation now, I highly doubt any company or white knight will come in, with extra money (on top of $100m to pay off existing lender) to fix the plant and batteries.

It would be putting good money to chase after bad investment.

The issue now is whether the collapse of IM3NY will collapse MNS (as you correctly pointed out), from loan guarantees?!?

The other issue is, when did they take control of IM3NY (1st Dec or 6th Dec)?

MNS Price at posting: 4.2¢ Sentiment: None Disclosure: Not Held
6 Upvote

0 Great analysis

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