The little guy gets "bent over again" and the big guys get to...

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bakker

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22/01/24

13:10

Post #: 71999720
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Originally posted by Shortblack: ↑

If AKP succeeds, and the odds aren't good, Bart will make enormous profit from that company. If PET becomes a stakeholder, whatever his share might be would be insignificant in comparison.

If AKP goes under, creditors and shareholders get nothing. There are no secured creditors. It has no real assets apart from an office which is probably in Israel; in fact it's June accounts show a negative net asset amount of ($2.3mil) which is pretty much the value of the Goodwill and Intagible assets that they wrote off.

They are desperate for cash to survive.

I can't help thinking this is a last ditch effort to secure working capital to keep AKP going for another 2 years.

Bart is the original owner and biggest investor, basically runs the show. Newing is an investor and spruiker. Van Boheemen is the CFO & company secretary. Freedman is a major shareholder.

Rebuilding PET is not their motive, they couldn't give a rats.

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The little guy gets "bent over again" and the big guys get to inherent the remaining Cash ... all with out a plan ... sounds like the Federal Government , then again , thats democracy for you ( err.. I mean for some)
In any event all we can do is wait with bated breath for some plan to emerge ... the pain contunies...this is like a bad movie that never ends... time for another drink .

PET Price at posting: 2.5¢ Sentiment: Sell Disclosure: Held
4 Upvote

0 Great analysis

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