It's a concern, like many other things. We'll have to see what...

It's a concern, like many other things. We'll have to see what EBITDA is. It was supposed to be ~$75m in which case $150-200m debt is manageable. If EBITDA is now in the $40m range, clearly a different story.

Agree they are highly unlikely to pay a dividend. The prospectus expectation of a dividend was also based on an expectation of $46m in NPAT. We are SO far off that it's not funny (clearly), so chances of a dividend are zero IMO. Also not helping the BS is the delay to receiving the $15m from WGH. If this isn't paid for 3 months that's September, so wouldn't be available for dividend. Again, that money was assumed in the prospectus to have been received.