Hi Jaranet,sorry to hear that you have been burnt by BNB. I...

Hi Jaranet,

sorry to hear that you have been burnt by BNB. I asked a question in this forum the other night about how the assets have been valued now that they are for sale (non-current assets become current assets on the books and require revaluation). I think it was cikku who replied and said that they use a number of different methods to value the asset and then take the lowest value! Thus, the valuations that are currently being used are very conservative and possibly quite unrealistic unless the assets were being sold at firesale prices. I understand that BNB have some really crappy assets that they paid too much for, but I don't believe that this is true of all of their assets. If the assets are sold at levels above these conservative prices that have been used in the recent accounting (the same that arrived at the conclusion that there is little or no value left for noteholders), then there is a reasonable probability that noteholders will still get a return once all other debts have been dealt with.

Unfortunately, I can't see anything positive ahead for the BNB shareholders for a long time, if ever.

Cheers,

StatsMan