With most of the equity of BlueSky being in the possession of very small holders there is a need for us to group together to protect our interests going forward. Depending on the meeting tomorrow we may be okay we may not.
Everything (that is legal) is up for discussion on how to protect our interests but we need to get enough people involved to have voting or financial weight. Other people may be able to come up with ideas you could never think of that might actually work. We can discuss on this thread or have a meeting somewhere possibly excluding insiders.
If all the assets go to repaying Oaktree then there is likely a problem with the company having a net debt which could effect it's licences. There may be the option of creating another convertible note whereby the cash needed to hold the licence is spent on BLA shares which may be converted by the holder back into debt and a condition that it causes a default if any of the cash is actually spent. This seems to me the only way to refinance BLA in the above situation.
BLA Price at posting:
18.5¢ Sentiment: None Disclosure: Held
