Braver person than I GS to chuck more money at this.
Company has no income, no cash and no line of credit. It has a large C note fast due to convert which has the capacity to kill any prospect of raising funds in the intervening period unless there is massive discount. I doubt Euroz or any half decent broker will risk clients and chuck them a lifeline now, which leaves the equity line of credit vultures.
As you know the fund raising window closes mid Oct until Feb so the brokers can get their Christmas parties and holidays in.
Question is how much are the leases really worth given they have spent millions not getting them into production and it is all still blue sky? I hope it comes good for you, but at the moment there seems very litte to dangle the carrot at future investors with.
MDA Price at posting:
2.3¢ Sentiment: None Disclosure: Not Held
