Cash in Bank is $16m Vendor Loan $8.5m They will earn $6m in cash between now and when they have to make the payment
That totals $30.5m
they have a facility for $9m so they could quite comfortably make the A Class buy out at $1.20
This will rid the directors of the A Class problem. the next step will be to put in a low ball offer to take the rest of the company out just like RP Data.
It's almost like writing a script or is it de za vu!
CMI Price at posting:
$1.16 Sentiment: Hold Disclosure: Held
