I don't know how they can get out of this. Way too much debt, revenue going backwards, cashflow negative, equity raise looks hopeless, can't see them selling their assets at anything like book value so the Directors must be seriously wondering about risk of trading insolvent and that's before WBC pulls the trigger on the covenant breaches. Will be lucky to last till next reporting date. For those that can use the tax loss, consider selling now and realising the loss rather than waiting in limbo for a final liquidation valuation.
IDZ Price at posting:
0.7¢ Sentiment: Sell Disclosure: Not Held
