melua are you out for good, page-4

If the deal proceeds, the dilution will be horrendous rendering the current BBI virtually worthless (1c or less in my opinion) and if it doesn't go ahead, administration is highly likely as the $205M due on Oct 30 will most likely be called in (BBI said it was unlikely the banks would rollover corporate debt as it falls due).

If you own BBI, you are stuffed either way.

The only way I will enter BBI is via an institutional/sophisticated investor placement as part of the Mr Cornerstone deal AFTER the BBI/BEPPA/SPARCS massacre takes place.

The daytraders are still playing with BBI but the penny will soon drop about their real worth. As the price goes lower, any cornerstone investment deal becomes more and more dilutive to existing securityholders. It is now truly a dargie death spiral in action before our eyes and reversing it is becoming less and less likely.

There are many unanswered questions that management need to address. Why weren't other assets (eg. NGPL) put on the market well before it got to this current situation? They announced "expecting binding bids on DBCT and PD Ports in "one to two months". That changed in three days.