Beejay, they are going to release well over a billion shares. That waters your maths down a bit. Why were they talking about a positive outlook and busier period for 2011 and even 2012 when they could not even pay the multitude of staff no doubt sitting mostly on small workloads. Its also in the grapevine staff are leaving to get any entitlements while they can and that both ships are sitting idle in port in Darwin and Singapore as I type. Welcome any news to the contrary. I wish they could lift the suspension to let some new blood come in and take a punt at a few cents. Bottom line, this half baked capital raising came too late and a first year accountant would have seen that telegraphed a mile off and we were lied to about the company having a future by upper management when they knew different. I would love to know if their assets are safe from the fallout that will make as big headlines as the ABC child centres.
NMS Price at posting:
8.4¢ Sentiment: Hold Disclosure: Held
