the spin generated by exciting guidance for the last quarter and missed so widely that it diminished my confidence in their ability/transparency. If you can get numbers that wrong only three months out and the wiggle room in working capital is so small then the implication for the business is too severe to risk heavy investment. There’s real risk of repeated dilution here until the sector turns. There is also real potential for a debt solution, phase 2 and huge upside but I’m not game to gamble on unknowns, I also think the retail investors are the least empowered group and don’t see why the holders of the debt or the hoped for white knight would favour us over other corporate moves less beneficial to the share price.
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