I'm trying to get my head around this. So MAH was owed approx $10.5M last year by Calidus. MAH agrees to convert the debt to equity and is issued 49,880,350 FPO shares in Calidus on 26 June 2023. The shares were escrowed until 26 Dec 2023. They now appear to be worthless, but I'll stand corrected on this. We now learn that Calidus is back into MAH for another $33.9M. Is this right? If so, how did it happen. Surely the Calidus contract was being monitored closely by MAH. I had a read of the Euroz Hartleys Industrial Forum presentataion by MAH (approx 19.6.2024) and and I couldn't see any reference to the Calidus issue. Possibly the Calidus contract is small and of no material concern. However, the market appears to be speaking loud and clear with the current MAH sell off. Or maybe the shorts moving in? Any comments on this?
Regards Stretguy
MAH Price at posting:
27.3¢ Sentiment: None Disclosure: Held
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