Absolutely ridiculous that a company that a few years ago sold...

Absolutely ridiculous that a company that a few years ago sold off a good asset and had close to $100 million in the bank could ever get itself into a situation like this. No other word for it other than sheer gross incompetence on behalf of management - i struggle to find a similar example of it ever during my time following the sharemarket.

She is very close to being a penny dreadful dog now that will probably live its future days as nothing more than a daytrading stock around drilling time. If nothing else, management have to get tossed out - getting the company into such a dire position given their previous cash position would have been hard work for anyone deliberately trying to sabotage the company....these guys have done a great job of doing just that!!! all in my humble opinion.