Apparently Planet Power Energy were unable to source enough funds to get the venture off the ground, hence Walker and co. walking. Now we have Oxlade running the company - which in itself, is a MAJOR worry. He has apparently offered $2mill but that hasn't been actually put in the bank account yet and will more than likely only happen if he finds a suitable entity to backdoor list using the BRT shell. All of this can fall over pretty quickly if Noble Group call in their debt, which they can do at any time. I would think Noble are owed around $1mill. So firstly Oxade will need to negotiate with Noble and then get shareholder approval for the deal. Creditors also need to be paid as well as auditors and ex-BRT management, so it is going to take a fairly decent injection by somebody to get BRT off and running again, whatever form it takes. I would think this is going to be many months away now that Planet Energy has pulled out.
BRT Price at posting:
1.0¢ Sentiment: Hold Disclosure: Held
