Great photo of Quinn & Stokes sniggering at the camera in today's West, standing in front of a few files which we can guess are Oakajee BFS.
These guys paid a $100,000 signing fee which Superkite will have pocketed (nice one) and were willing to put up $96 million before seeing a single cent from the $6.5 billion backer. The fact the backer had never successfully backed any other business venture and was being sued by various parties in multiple jurisdictions failed to be revealed in all the comprehensive due diligence they did.
But don't worry shareholders, "all they've lost is their credibility". So, you've got 2 people running your company that admit they have no credibility but you can keep paying them a few hundred grand each.
Happy days.
PDY Price at posting:
0.5¢ Sentiment: None Disclosure: Not Held