Cleared myself out of this forum a while back when a mate...

Cleared myself out of this forum a while back when a mate invested in another operation but I think now things are coming to a head with the 249d.Alex would of been completely p++++d off to execute that action usually they are a last ditch effort to salvage the business and protect their investment,the board members can join together and reject it but it would likely be challenged in the Supreme Court so now there will be a vote it is very messy and should not be under estimated the company is sick to the core.As with a placement they cannot undertake one within twelve months of the last and it is capped at 15% of marketcap so if anyone says share price doesn't matter consider it reduces capital raising capacity.Money can be raised privately with shareholder approval and usually the terms in this case are harsh hence toxic debt.I have a feeling if the finance is sorted there could be a 20-1 consolidation with a finance structure where the lender can draw money down in tranches by dumping shares"just a guess" but have witnessed it with other companies.
As with the business operations it better be a good quarter as last they only had 22mill cash however the devil may be in the detail as when businesses pick up they are constantly short of cash so have to wait and see but its definitely walking a tight rope,work wise I believe they are being fed plenty but issue is they are not expanding so don't have new ebitda rolling over into the company,
The Capital Smart deal didn't work out very well but has there ever been a panel and paint operation that makes money while not expanding or having the work supplied by their own parent company as importantly bodyshop MSO's who have work supplied by their own parent companies are the only ones with good figures.
There are some issues in my view with a few of their processes but thats just an opinion going in and underquoting competitors never works unless you have some new age equipment that the opposition don't have.
Final wrap up I'm not sure if this entity will survive but quite confident AMA Groups sites will continue on maybe broken up or reduced in numbers could be with a new owner,I would be watching the Truck division with interest