Canberra1,You should probably do a little bit more research. BLA...

Canberra1,

You should probably do a little bit more research. BLA was a very small minor investor in the aged care business, BLA are fund manager, no fund should be a cash drain on BLA.

BLA's problem is that they are ultimately an unprofitable business, irrespective of the Funds under management and so far to this point they have been working on this for over a year, to arguably limited success. The only reason they were showing profits historically is that they were showing "book" profits on their P&L as performance fees on funds, never receiving them doing capital raises and then paying dividends. Glactus come along and call them out, low and behold they write off most of those "profits" as unrecoverable and here we are today.

Now the issue of their survival is if they still have any reputation outside of Water rights and from all media reports and the last BLA update, they have not been able to start any new fund, even though they tried to put together at least 2 that the AFR saw being passed around.

The turning point for this will be:
1. All Clear from Oaktree
2. BLA getting recurring costs below recurring income (so that they can at least become cashflow neutral / positive)
3. BLA actually raising more $$$ for a new fund

But hey, good luck to all unit holders, IMO the share price will bleed to under 10 cents - but do your own research.