I initially thought the same as you, that it was embarrassing...

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taipan168

236 Posts.

92

09/05/19

18:29

Post #: 38493599
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Originally posted by iminvestor101: ↑

hi pikel,

i have to take my hats off to you for the research and time you have allocated to provide more information about BLA on this forum. if only people would be listening to you in conjunction with their own research, their losses would have certainly be minimised, at no help from bla management unfortunately.

i think the funniest thing after reading the market update is that oak tree, who is supposed to specialise in alternative investments, apparently didn't do their due diligence correctly on the business. if they had, there is no way that they would have set out the covenants and overall debt structure for BLA the way they did. i dare to say that they wouldn't have even touched it had they known the actual position of the business. in fact, the business is probably so messy that not even management knows what to do anymore to stem the losses hence why the CFO resigned shortly after being appointed. oak tree probably couldn't see through KM's BS and the voodoo finance that previous management concocted while collecting millions and deceiving investors. its such a shame to have such people in the world. unfortunately, when you are not a successful businessman like the mob who built BLA, there is no way to be one other than to lie and cheat your way there. its just not sustainable over the long run. rest assured though that if they did it once then they are probably at it again as we speak, preying on the next lot of dubious investors.

keep up the good work and hopefully your comments don't fall on deaf ears. as for current holders, good luck to you all because at this point you are going to need a miracle. and even if the miracle does come, it won't make the value of this business go up significantly.

GLTAH and DYOR

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I initially thought the same as you, that it was embarrassing for Oaktree that their facility breached so soon after inception, but then pikel pointed out that Oaktree are "loan to own" investors so they probably knew exactly what they were doing. He also pointed out that Oaktree are owned by Brookfield who would probably love to get their hands on the management rights to some of their funds.

BLA Price at posting: 19.5¢ Sentiment: Sell Disclosure: Not Held
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I initially thought the same as you, that it was embarrassing...

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