There are a few pockets of value when a company goes in...

There are a few pockets of value when a company goes in Administration (Not saying that Strandline is going there yet)

a) Corporate Overheads:- Out of 10M they are currently losing $7M are overheads - In theory if a larger business with Synergies acquire the asset they can cut most of this down in 2 years time

b) The gap between selling price and cash cost is closing and could very easily swing to a marginal profit with operational improvements and better product marketing by a bigger player

c) Accumulated losses could be set off by the company acquiring strandline (Ofcource subject to DD) Thats a significant tax shield, again, for a larger company that takes on this mess!

d) last but not the least - there is always a possibility that the MSP may just work given few more months of pain that a better established player can easily absorb

Never say never! I have hope but prepared to be proven wrong as I have no skin in the game!

Will Shenghe have a look?