Sounds like Ray Bushnell has what it takes to turn things...

Sounds like Ray Bushnell has what it takes to turn things around.
We certainly do not want another 'stuff up' like what has occurred.
As finance guy should Troy Buswell been across what was happening contract by contract? The signs must have been there. Is it a case of too much trust in the line managers without being aware of the signs. As one who has worked in a major contract delivery organisation and seen this go wrong big time, you see the signs that senior management seem to gloss over because of their bonuses.
My concern would be also be if BYL needs more capital to fund its operations. This is usually a placement which dilutes the holdings of this who have not qualifies as 'sophisticated investors'.
Is it time to move on and look for better things or is this likely to recover to somewhere around the 30c mark?