Trading, page-70

Smarty:
Your logic defying arguments for a yes vote simply reinforce the comfort I have with my no vote. Thanks for the anti counter argument.
Oh and on cash, in our last quarterly we had $12.2M in the bank with a forecast burn of $2.4 this quarter so by the end of the month less than $10M.  At that burn rate we would need to find money again in less than 1 year.  Doesn’t seem reasonable to be in that position and to have debtors with 3 year terms in the form of our own Directors.


Ralom:
“Will we care if they pay out the loan if we get taken out ?
I would assume they will have to pay it back even under takeover .”
That is not a concern for shareholders. The last of our worries. It’s no so much the default risk (an unlikely event but still an unnecessary risk to take on), but simply the generosity of the terms of the loan.  I would quite like to shoehorn the boys into the top 10, but not on terms that disadvantage the company.  Still 24 hrs to reconsider.