SLE - what do you mean "penalities by this Friday?" The deadline passed nearly 2 weeks ago and according to the most recent BRT ann., MFC hasn't agreed to an extension. The ann. clearly says "buyback MFC". Maybe MFC is not for sale any more. BRT obviously gave MFC back to their management in late July and possibly hoped/had the right to purchase it back on the 14th November, however, as this deadline expired BRT has no legally binding right/option to purchase MFC any more, however MFC management could make it available for sale again. This COULD work for or against BRT.
FOR: BRT may be able to offer a lower price to buy back MFC due to the depressed financial climate
AGAINST: MFC may not be for sale any more and the money that hss already been paid to MFC management (approx $1mill) + 19mill BRT shares has been thrown away
AGAINST: Also, since MFC hasn't been in BRT's ownership since late July I would expect that BRT hasn't collected any revenue from MFC (or had any expenses associated with the company)since late July so the revenue is most likely not going to be anywhere near the $20mill forecast as around $7-8mill of this was supposed to be MFC revenue.
MFC wasn't cheap to buy and maybe with the current market, the US$4mill that BRT will get may be used on better (more established and profitable) companies!
BRT Price at posting:
1.5¢ Sentiment: Hold Disclosure: Held
