Solvency relates to a company being able to 'pay its debts as and when they fall due' and I'd suggest the very purpose of the loan was because the company was insolvent. Having incorrectly registered a Charge on the PPSR would be death to the lender, but so is registering a Charge within 6 months prior of a company becoming insolvent. Flick passing to Gladiator is an alternative live option (like a perverse version of a backdoor listing) if they have their board stacked, but then they're in the same boat, looking for loans and CR when their $4 mil cash runs out pretty quickly. Either way MNS holders get run over.
MNS Price at posting:
4.2¢ Sentiment: None Disclosure: Not Held
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