New Direction are amateurish and self contradictory.
Campdenbob claims to have $100m financing “available” but subject to due diligence because whoever it is hasn’t been able to see any details. Not really “available” is it CB!! You can have some of my $100m “available salary” (subject to me finding someone to pay me!). Corporately uninitiated.
Great to have all these really committed “former shareholders”
New Direction presentation criticises/ CTP for being “heavily debt burdened”. If they believe that is the case they aren’t suggesting yet more debt, can they? So the $100m is equity?? Is this equity coming in at a price higher than 20c or the more traditional discount to current share price?? Say 11c?? In which case all share holders can kiss 20c good bye forever with 4-5times the current shares on issue!
Guess this "really committed" (former shareholders) group don’t really care….come in issue options to themselves then dilute the living daylights out of the current base would seem to be the plan.
Maybe not but it is all so scatty and inconsistent it is hard to see if any brain power has been applied to it. Maybe it works when they use imaginary numbers? Maybe the whole thing is imaginary!
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