"PFG has been granted a first-ranking security for the loans on all assets of the Company and most wholly-owned group companies."
This is what concerns me. If we default then PFG pick up all our assets (last valuation I have is excl vaccines - $126m) for a miserable $5m or at worst $10m.
As others have posted, whilst we missed the forecasts by a long way and investors who acted on that information have been misled, the operating numbers are still not too bad. Rather than tear the company down I prefer to support it through to profitability even if that means another capital raise. For that reason I prefer to wait to see what management is planning and how we can realise our potential before committing to any drastic action.
Class action, page-46
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