Short term debt - self inflicted. They had to use their back-up plan to fund the SocietyOne acquisition (because of tightening capital markets). That back-up plan was short-term debt. It's now due. It's a sword hanging over our head. They raised $20m at $0.50, but it was not enough to resolve this debt. At least it would have put a debt in it. That is the most immediate risk. Will they successfully replace this debt somehow? That is meant to happen soon.
Bad debts - for lenders, this is always a big risk. Are management being accurate with their provisions for bad debts? If so, no issue. If the AU economy crashes, how bad will it be for MME? Crashes due to - too much inflation, high interest rates impacting mortgage holders etc, and unemployment.
Side-question - does the security of a vehicle sufficiently protect them from bad debts?
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