more good news, page-5

Matthew Chun still only owns 1-2k of stock despite his 500k annual salary.

For this reason IMO the ordinaries are not worth holding, as soon as they can they will do a placement at a discount to the market price because it will be in their interests to keep the company going.

I was disapointed the note holders didn't vote no to the extension as IMO they would have been paid out at the front of the queue, ~12m is small time to what they owe the banks.

There are better buys out there with more upside to BEC.

Best case the property market picks up and they do a diluted placement. Worst case is they keep running the company as is, paying large salaries, deferring debt until finally the life support is pulled by the banks and the directors declare they are insolvent as they cannot meet their debt repayments as and when they fall due. They are very very close to this now and if not for bank support extending these loans month by month they are insolvent.

To top all of that we probably have punters selling to realise tax losses in the next couple of weeks.....

A Dog that will not wag needs to be put down!!

Disc- 1 BEC share and a heap of notes