Winning the court case is just the first step in what will be a...

Winning the court case is just the first step in what will be a monumental struggle for this company to survive.

in March next year the bondholders can call in their money and there's nothing CMQ can do to stop them. They will have to find someone willing to put in $60mil to pay out the existing holders, plus extra funds to keep operations going for however long people are prepared to wait for results.

In order to have any hope of anyone putting in extra money, they have to prove they can get sales. The record so far is not promising. Extra regulatory approvals may help, but it is now close to 12 months since the last announced sale into the 3 countries they currently do have approval to sell to.

If extra sales don't happen in the next 12 months, the company is unlikely to be around in 2-3 years time!

If they can get enough extra sales to convince someone to put more money in, it's going to mean massive dilution of the existing shares to such an extent that, on fundamental eps measures, $1 a share is a long, long way away. On technical measures things may be very different, so who knows?