These guys are in the deep shimoolamanga management lending money to the company? read mortgaging their houses, equity purcahse not going ahead? read due diligence reveals crumbling financial structure and smorgasbord of cooked books; "rationalising operations"? read cant pay bills when due, They dont need an attorney, they need an administrator- the share price basically represents their net tangible asset value and even that is doubtful because in the current environment with ultra high soy oil prices, low us dollar cf australian, waning political commitment to bio fuels due to the industry pushing the price of foodstuff up and you have a company in dire straits.
Mind you, i hold the bl**dy things, bought them without researching the industry.
And how long til Beatrice starts up? It is always the month after the previous announcement said it would be, that is previous announcement other than the various failed attempts at securing more finance through loans that dont go through, capital raisings that fail because the share price falls below the proposed issue price etc etc etc. When are management going to come clean with what is really going on with the company and how long we really have to wait for beatrice and whether in fact they will really be able to make any money if they ever do actually go into production.
I hate being lied to and I am getting the feeling now that there are a whole lot of porkie pies coming out in their announcements. Stalling until they get finance to finish Beatrice and until the soya oil market turns to their favour, which aint happening any time soon.
Please please someone explain how I am wrong. i am sitting on $140 of AAE share that used to be 650 or something and i am pssssssd off.
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