The late announcement yesterday revealed that Credit Suisse has sold it major stake in NAL, NAL also announced that it will draw more money from the line of credit facility.
The share has fallen steadily in the past 3 months. It seem in my opinion that the needle free technology that was going to get NAL out of trouble is struggling to find a commercial partner.
NIM that is listed in UK and NAL has a substanial holding is struggling as it share has fallen for around 16P to 7.50P. Remember last year that NAL said that at when NIM 16P that it was worth 9.5 cent to NAL, judging by that it is worth under 5 cents.
Considering all of the above in my opinion unless NAL can some how stop it cash burn rate and start to generate real revenue it could be headed to bankrupcy.
On the positive side for NAL is the line of credit has still got a way to go, the providers of the line of credit are seeing potential NAL.
I was a believer NAL but due to the uncertainty I have sold and watching from the sidelines
Does any one have any opinion on NAL. Good luck to everyone that is holding NAL.
Just my opinion do your own research.
The late announcement yesterday revealed that Credit Suisse has...
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