Mr Spec, CVI has a torn up business plan and no cash.
I agree with you.
The worst possible position to be in atm.
Dilution will be coming to keep them afloat, at best.
The proposed EGM resolutions will be a disaster IMO as very few will support it unless it is underwritten by a reputable micro fund of which many are on the cusp of not even existing. They cannot even come forward and state that the refinery acq was a complete and utter disaster.
Life support is evidenced by throwing shares away as capital.
They failed to raise an amount via shareholders and sophs some time ago - they are not an orphan but this one is and always will be, a 100% disaster now IMO.
They have failed. At least they had a shot and perhaps made quite a few, very, very wealthy but they are on life support now.
CVI is one of the biggest HC disasters of all time.
The %s are so high now that they have no chance uinles you have a 100m plus vol day where it is pumped and then 100% forgotten about.
Mr Spec, CVI has a torn up business plan and no cash. I agree...
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