Company A invoices Company B $1000. Company B cannot pay the full amount or will go broke.
Company A agrees to accept 80% of the invoice amount, and normally agrees halt legal action if the agreed amount is repaid within a certain timeframe.
Company A loses 20% but at least the company did not go broke on him and he loses the lot.
If a deed of arrangement has been struck with any suppliers. MAE management have an obligation to inform.
Another interesting thing was that MAE did not pay ANY interest on their loan for the quarter.
If I dont pay my house loan for three months my bank would be beginning to get pretty grumpy..
Suppliers owed close to $15M Didnt pay the bank interest for 3 months. Directors jumping.. Chewing up money at $800K per month, and they only had $800K left a month ago.
Whats the Bank Balance today???
How much can they Raise and how fast... They need money like now...
MAE Price at posting:
4.2¢ Sentiment: Sell Disclosure: Not Held
