Great example of robber barons. This thing listed for a billion less than four years ago. In that time, management blew almost the whole lot.
The amazing thing is that amongst all this destruction, BNB collected $9.5m in management fees in the past six months. The board has now hired a CEO for $900,000 a year. To do what, I don't know as this thing is essentially a cash box on wind down mode.
When the market is at its peak these people are buying. Now the market has tanked, they decide to do a capital return! Isn't their mandate to buy low sell high?
Not only that, these robber barons have gambled some cash on derivatives as well which now requires booking $40m as a liability. There is around net $280m cash left. $100m will be returned in a capital reduction. Possibly $30m will go to break the management agreement. $15m for even more 'management' fees. Management keeps the rest of the cash in the company so that their exhorbitant salaries continue to get paid. I think 60 cents a share is all shareholder are going to get from this dog.
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Last
2.4¢ |
Change
0.000(0.00%) |
Mkt cap ! $17.90M |
Open | High | Low | Value | Volume |
2.3¢ | 2.4¢ | 2.2¢ | $13.83K | 584.5K |
Buyers (Bids)
No. | Vol. | Price($) |
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2 | 30691 | 2.3¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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2.4¢ | 126504 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 250000 | 0.026 |
3 | 65691 | 0.023 |
6 | 867716 | 0.022 |
2 | 528190 | 0.021 |
7 | 1676190 | 0.020 |
Price($) | Vol. | No. |
---|---|---|
0.024 | 126504 | 1 |
0.025 | 262700 | 1 |
0.026 | 771842 | 3 |
0.027 | 1000687 | 5 |
0.029 | 500000 | 2 |
Last trade - 15.09pm 06/05/2024 (20 minute delay) ? |
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Last
2.4¢ |
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Change
0.000 ( 4.35 %) |
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Open | High | Low | Volume | ||
2.4¢ | 2.4¢ | 2.4¢ | 41353 | ||
Last updated 15.10pm 06/05/2024 ? |
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