Too many fat cats on big wages, overheads too high, commission payouts too high etc. simply not a sustainable business model.
As for Goodwill at $17m ... that's the funniest thing I heard in years - there is no equity in this business.
In the mean time MacBank will chew them up... they can basically set whatever interest rate they like at the moment - last report it was 7.5%, hate to think what it is now after numerous extensions...
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