Funding/cap raising, wasn't that what this company originally went into a trading halt/suspension for?
If so, why did it take for it to go into administration for them to actually get something happening?
One word sums it up, Earl.
With him gone as CEO and shareholders having little say in the matter the creditors will basically control what happens from here and that will be a massive consolidation.
Interestingly, commenting on this reminds me of the last financial accounts this company published where it states under related party transactions that whilst the office furniture lease was bought out from Earl's private company he had not actually been paid for the transaction. What does that do? It makes Earl, via his personal company a creditor, so he still manages to have his say at the creditors meeting.
Makes that office furniture transaction look a hell of a lot more suspicious than when it was first announced, and it smelled pretty bad back then.
AEB Price at posting:
0.9¢ Sentiment: Sell Disclosure: Not Held
