Not the stock anyone would want to buy unless they can refinance with a better deal than they have at the moment. They are stuck with bankcard rates and share dilution with the present arrangements. I did speak to the CEO about this and suggested a share issue to present holders. He told me that the major holders, with a 60% interest had been approached and were not interested. He doubted there would be many who would take up an offer and that costs may not even be recouped. They are trying other avenues but the cost of the current loan is eating away at the funds and as each month passes the lenders are issued more free options.
They will bounce if and when EDE can establish their product as they could supply parts used with the hythane. Their association with Tata could help.
A bottom drawer job, watch announcements and hope.
ACE Price at posting:
6.3¢ Sentiment: Hold Disclosure: Held
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