It looks like the shorters are back
With a thing like our law suit against Watchstone floating around who would I do a D4E for $0.105 a share? Not me.
I am a reasonable shareholder.
In any D4E deal I would expect fairness.
That fair deal would be discounted estimated future cashflows (ie our high quality staff, lawsuits, NIHL, escrow and earnings after restructuring and pips).
But who knows we may not need that D4E anymore? Why not pay it all debt off with moving timelines a bit?
The $40mil cash for headroom capital shows that our lenders are on our side and working with AG to restore the company.
Because of recent events I feel more and more confident that MBs CA is doomed (and why is ACA not wanting to come aboard - are they scared?)
All in my opinion.
My future is green
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Simon Kidston, Non--Executive Director
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