double or nothing

That's the situation, folks- the next seller is willing to take 5c. The next buyer is only willing to pay 4.1c.

eric, here's our current status- yes, it is in doubt whether we can be a going concern- this is from the last ANN:

Going concern

Redcape is paying its debts as and when they fall due but its ability to continue as a going concern, including the continued ability of Redcape to pay its debts as and when they fall due, depends upon the continued support from Redcape's Senior Lenders and Junior Lenders. The directors of the Company and the Responsible Entity believe there are reasonable grounds to believe that Redcape will continue to receive this support. Also there are reasonable grounds to believe, but no guarantee that the Alternative Proposal will proceed.
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Ok, so we either receive 10c per share, or we go under. I spoke to the company a few weeks ago. Here's a couple of facts:

* The new party- Soul Patts private equity people- were, at the time, undertaking due diligence;

* The Senior Lenders - Goldman Sachs and the like- have to accept if an offer is made to repay the Senior Lenders (I didn't know that- good to know, I thought)

* Whilst the Senior Lenders' offer is finished, they could revisit this at any time. Nothing is fixed.
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Ok, so none of the above is market sensitive, and other holders probably know the same. We do have an amortisation covenant due on the 30th September, which is this coming Friday (tick, tick). We (RPF) have asked for a waiver or an amendment to this, as set out in the ANN. We need GS to allow this.

I reckon/hope, but have no idea, that we might get some news this week, as it's so close to the repay/repo date. I am hoping that the news we get, if we get any, is an offer from Soul Patts for 10c.

Double the share price now with an offer of 10c, or nothing with possible administration. Some buyer is willing to pay 4.1c for 100,000 shares, a total of $4,100, as a punt that this might go through.

What say you, holders? Confident, or is this a rough old "investment"?

I have an alert system set up in the event that the AFR (maybe Street Talk?) puts out an article- I'll find out immediately what the goss is. I'll let HC people know.

Good luck.