If they are insolvent or close to it the current board should face some sort class action. All the releases over the last few months have only focused on how things have been good...nearing cash flow positive etc
Regarding cap raising I would expect a 1 for 5 issue to current shareholders at somewhere around 80c. They would raise nearly $8m which should be sufficient to get Anixter really moving, hopefully salvage Aero and start BAE. With some cash coming in they should then have enough to expand the business e.g. Dell PC lock, revisit some other applications on hold.
The worry is what are the current board doing right now...
TZL Price at posting:
92.3¢ Sentiment: None Disclosure: Held
