So far they are only litigating in court on about $7M AUD - some have been going since last year. The rest who knows as they haven't even got to a litigation stage yet.
You also may want to note that at the AGM earlier this year that OVT had gotten rid of the previous laywers and employed global law firm Herbert Smith Freehills. There was a big fanfare with this. David Halliday said things were now moving along quickly and they were hoping for some settlements soon. That was in January. Now we are in November and those same court cases are still going. On top of that they have now added global consultancy firm J.S. Held to the mix. So far, in my estimations, they have spent in excess of $3M. Now add the consultancy firm, plus lawyers fees, there isn't going to be much left from the $7M they have in litigation - allowing they are successful and can actually get the money back.
That leaves the other $13M. If it has taken over a year to get to this stage with the other court cases - and a $3M cost - how much will it cost to try and get the other monies back - if they still exist.
I'm sorry, but your estimate of $15M recovery in stolen funds is wishful thinking based on what has transpired so far. Perhaps I am wrong, but ask yourself why there are no court cases for the rest of the stolen money? And If those cases do finally come to court, how much can they recover and how much is it going to cost them to recover. Personally I'd be basing your war chest on the sale of IDSB right now and if anything else comes it is a bonus - but I wouldn't be adding it in as concrete figures
OVT Price at posting:
2.5¢ Sentiment: None Disclosure: Not Held
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