No one is trying to upset you about a potential bankruptcy but please see the other side:
1. They have downscaled the operations substantially 2. Many staff have been laid off in the last 2 weeks (we have heard approx 20 staff laid off in last two weeks) 3. There has been no sign of bank funding 4. There has been no sign of a term sheet for a CR 5. The CFO (Richard Baker) resigned today suddenly
These are all signs of a company on the edge of bankruptcy.
Whilst I wouldn't wish this on anyone, we have to stay cognisant of the realistic likelihood of VA.
CAN Price at posting:
41.0¢ Sentiment: None Disclosure: Held
