1. Get professional advice from an accounting and possibly a legal firm on financial and legal obligations, especially the financial viability of the company - eg, is the offtake agreement still binding? Of course, you would need detail knowledge of what has been signed. From my understanding, in some contracts, the placement of the company in administration, release the offtaker from any obligation. This is something you guys need to check (maybe the Administrator can tell you, if you contact them, thus saving you unnecessary fees). Note, if the offtake agreement is now null and void, then the company will need to find new buyer/s for its products, and
2. Contact the top 20 to see who is willing to help recapitalize the company.
That way, you have a fair idea, before deciding whether to recapitalize the company, you have a viable business.
AIMHO
DYOR.
A40 Price at posting:
8.2¢ Sentiment: None Disclosure: Not Held
