Interestingly they didn't provide a Q3 business update in their prospectus. For transparency reasons, they probably should have.
One can only assume that the businesses are just labouring along at low roi's.
On current financials and cash in the bank, once conversion occurs, hard to see the 5 to 7c SP some are saying here with over 2b shares on issues.
Priced about right at the moment for me. Low quality business which means it is high risk. Interesting to see what the hedgies who currently hold the hybrids will do if the scheme gets up.
What happens after the scheme??
I believe they'll have a share consolidation in the next 6m, say 1 for 100, and then soon after raise capital in hope of growing the business through M&A.
Will they succeed ? Time will tell but it won't be smooth sailing that's for sure.
SRS Price at posting:
2.5¢ Sentiment: None Disclosure: Not Held
