It is possible that you could have a situation where the NTA is...

It is possible that you could have a situation where the NTA is zero or even negative but RRT is still paying a 15% to 20% yield because the rental income is unlikely to vary much.

Although probably there would be some major issues with the banks regarding loan to asset values and perhaps this could cause an increase in the interest rate being paid and/or some default problems.

But some equity from AFG or a rights issue would solve this sort of issue.

Who knows? Does look cheap but ...???