I think the update was fine and from my brief exposure the directors are doing a good job.
Yes there is some ambiguity, but that is needed to not box themselves, BMB, into a corner.
Milos Bosnjakovic is a lawyer from the former Yugoslavia - so we have got the very best opportunity possible.
I may consider making a change and have a punt on him. He should be batting for us and I 95% sure he will be ok.
As long as there is some buyers money (not a formal deposit but just equity) is locked away in the one of the buyers funding banks, Milos should be able to hit that bank with a few sharp letters effectively threatening them not to return any of the individual buyers money (even if they request it) or the bank itself will somehow be part of a future damages claims. Possibly more bluff than a definite legal footing. He's got the credentials to cause anyone to take note. Yep he's OK
BMB Price at posting:
9.4¢ Sentiment: None Disclosure: Held