It's been 6 months and they aren't even close to a recapitalisation they have been saying for 3 months that discussions are well advanced but I doubt that seeing they just got a loan to cover another 3 months of operations.
Our only hope now is a offer from private equity would need to be $450 million just for us to see 30c.
Any private equity offer now after the write down would hardly cover the debt,Debt holders might accept an offer for them to see 80% of thier debt back.
No new investors are going to lay down money after the last 6 months and with 3 class actions and a $30Million plus put option that can be exercised in another few weeks.
QIN Price at posting:
29.5¢ Sentiment: None Disclosure: Not Held
