Guys upon reviewing Po's half yearly accounts the biggest risk I...

Guys upon reviewing Po's half yearly accounts the biggest risk I see is the need to have a capital raising at a time of the lowest share price thus big dilution.

I want to believe there is massive upside but if things go slightly wrong we are up for big dilution which will equal outstanding Bank debt plus any immediate payables.

This could equate to 25% of the current market cap - ugly.

My aim is to ensure we all understand the risks.

I note the following from the accounts;

1. The trade payable is not for gas sales but rather a Vat off set (if things go bad ie staff salaries diminish this is worthless).
2. Unearned revenue of 900k.
3. Overheads are excessive.
4.Borrowing Limit can be re set and I do not know the rules.
5. Profit is greatly affected by amortisation charges - this might affect the Borrowing Limit. This big continue expenses 1.3 m euro per six months (ie half of current sales) is the IPO asset revaluation that gave Masterman 25% ownership for very little outlay.

Thoughts Guys