Ann: SFG Project Sea Dragon Review Update, page-239

I agree, never was listed company grade for a number of reasons with a major one being as you say. The other major issue was the governance & leadership quality.

So questions to ponder whilst sleep is averted.

• Will it survive the current rescue? Possibly.
• Will it survive an operational recovery post rescue? Unlikely as better alternatives around but that will destroy the retail investment community and may well trigger a raft of Class Actions. Some deserved and maybe one or two undeserved.
• Will Japan pitch in and help to grow and rebuild the company? Highly unlikely as that is the lowest return / highest cost path for them.
• Will Japan watch it and the two man rescue team like a hawk for the possibility of an easy kill through triggering a PSD failure? Absolutely and here is another part to be tested - Japan and its own appetite for sunk funds in prawns for its domestic market may be better off letting southern asia be a supplier to Japan and control their market through the import framework they have in place.
• Will someone else step in to be the white night? Not with Japan sitting there high in the tree tops watching.
• Will the current two man rescue team pursue the rescue path - Absolutely as they have funds tied to it and they will attempt to kick start the recovery stage as well but they wont be around much after that as they know the odds in truth.

In the meantime the share price will drift down to around and bounce off 1.0 - 1.1 and then rise to 2.0 maybe on the back of a group dead-eye retail traders and not much else. the volumes have comes off substantially since the announcement and Friday's trading.

One thought was a possible ASX delisting as part of the recovery plan and once delisting then a substantial capital restructure including consolidation, buy-back and re-issue to a set of HNWI or a couple of family office(s). Can't see the appeal for a PE play as not much to strip or leverage meaning their would be bugger all interest in PD unless a super fund or two maybe...as part of the HNI, Family Office package...plenty of other derivatives of this but its in the hands of MM et al to do whatever they have come up with.

Everything else is speculation and conjecture....at this stage.

I do laugh at the ...blah blah blah gimme the CEO's email address I know how to fix this... blah blah...F_hilarious from the oh so opinionated in here.