maybe I posted too early here....have another look at this real life evidence. I think Jadel is right in suggesting the 'now I'm resigning/now I'm not resigning' chair was unaware of the pop vox camera. The "we'e not going into any administration" comment is telling. Why is he talking of that? To take a leaf from his former colleague, I think it's a 'non-core promise'.
Let's think through the advice that the board is getting: the company is not trading while insolvent because a) its share trade is suspended b) it's not taking on new debt or raising new capital. It is merely selling assets to clear debt. Hopefully safe from ASIC and IMF. The company receives expert advice to suggest those sales are priced OK in current circumstances. There is no need for continuous disclosure because there is no current PDS used to raise capital etc. All is frozen........and gently sinking. Mark Korda is getting OCT ready to fly again just like Ansett.
I think that debt and related party obligation will rule here. There was no evidence at the EGM of revenue sufficient to sustain remainng assets - only platitudes. The Stella sale disposed of a 'non-core' asset. What is the core business of OCT?
MFS Price at posting:
0.0¢ Sentiment: Sell Disclosure: Not Held
