Seem to be big mess at moment with Marinier. Disputed in latest acquisition, failed takeovers now acquisition of leasing business for $13M don't understand how it funded. Issue of share 1.5M of shares at 10 cent to raise $150K. Currently in negative equity but have $2.5M in cash. Also going to take over $7.8M Suncorp loan to Becton not sure how much Marnier is going to pay. Even with disputed acquisition they will need to pay approximately $7.5M but they already re-valued it $13M may borrow against it. I also guess over million dollars invested in Becton Property is probably written off to zero now as it in receivership. To top it all of there will be capital raising soon as expect large number of share to be issued. Well let see what this year bring Mariner, as Bill Lawery would say it all happening!
MCX Price at posting:
6.5¢ Sentiment: None Disclosure: Held
