rudd's scheme for commercial property projects, page-19

Agreed that they paid too much. At least they did it with equity. Obviously extremely painful for those who funded it at ~$1.92 a share - but better at this stage for the company's survival than using any portion of debt to fund the purchases.

So a big portion of the current debt seems to have been acquired along with the purchase of Scarborough.

Still does not justify a share price indicating a market cap of $75M.

VPG ticks a lot of boxes and whilst it might be a little bit risky the upside potential is huge. Income still coming in, some write-downs to come, but presuming that they are not forced into massive sales of assets at this time (and it does not seem that they will be forced to), management reducing costs and owning a big position in the company themselves there is a fair to middling chance that we'll see some takeovers coming this way from stronger parties and I think they'll see that the current MC is way under where it should be. Of course it isnt going to get to $1 anytime soon maybe not even 50c but 4.7c ? - give me a break.