what the real risks are the main one is litigation ....were a...

what the real risks are
the main one is litigation ....were a class action to be mounted the stock price drops likely 20% +.Has Blue Sky misled the $11.50 placees as to the quantum of fee earning funds under management ? This seems to be the principal avenue and it may be the only one . It's the placees who got fleeced where the opportunity lies ..lots of HNWs . Maybe management have exaggerated their prospects in the doing of the placement . But where is the evidence of this class action stirring ...I don't see it apart from vague references from the participants in the 12 June teleconference ..and lately Morgans in a research note?

Of course post June 30 ..if there is no reasonable basis for their forecast of net cash of $31million ... that litigation risk jumps exponentially. The directors couldn't be so stupid .....I believe.

is the NTA position really $2.06?. I believe it is probably higher.

will they be looking for cash in the next 3 months? No.

Of course , as a recent buyer I'm completely biased .