It's not great yes. The misdirection that has gone on here is shocking, no wonder Joey didn't bother to turn up to the AGM and went on leave before his shares were reposessed. How embarrasing that would have been. Your theory regarding Joey hedging when his Uncle was closing in on the legitimacy of his DNA stake is a good one. Margin loan happened around the time of this report.
However this can only be positive from a catalyst for improvement point of view. A new CEO will shake things up, maybe even for the better! I think with OCP owning equity the loan situation is ok, probs would have been in trading halt already if finance called in. Simpliest way to get back in the black for OCP is to keep it trading assuming lease arbitration wins, and listed so there is liquidity for an exit down the track.
DNA Price at posting:
6.6¢ Sentiment: None Disclosure: Held
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