E-pay want to go public.
Simon Loh has invested $8.7 million into SKG at an average of over $2 per share.
Do you really think he will flush that money down the drain ?
SKG have far better financials than BQT Bazzaroid, and they have the backing of Simon Lohs e-pay.
They have retired all debt including goodwill and they are just cleaning out the register for the new entity.
What sort of goodwill do BQT have on their books ? if they wrote it off in one go they'd have a bigger loss than SKG recorded.
In my opinion SKG and Simon Loh have had this planned for over 9 months, and I see no reason why the deal wont go through.
Now, what happens if BQT don't get the monoco deal (if in fact Monoco are for real) ?
SKG doesn't look sexy atm but I think we'll see a revival in the share price in the not to distant future ;-)
SKG
skynetglobal limited
