Ann: Trading Halt-SRF.AX, page-26

It’s clear now that the company fell victim to discounting and ramped up advertising costs to counter a downturn in overseas markets. That only served to further slash profit margins as they struggled to integrate new acquisitions.
SurfStitch said this week it had launched a “transformation program’’ to rebrand its multiple online businesses and overhaul its management structure. But sceptics have their doubts about whether it will work. “The earnings degradation is so severe that it seems unlikely they’ll be able to recover from this. They’re bleeding like a cow in an abattoir,’’ one broker said.
It’s a long way from the happy days in late 2014 when the firm listed after raising $214 million at $1 per share. It later hit a high of $2.13 but closed yesterday at 54¢.

http://www.theaustralian.com.au/bus...t/news-story/2589203e4a616a5d7fae8d69c1f0c9b6

Old article but it sort of some up what insto's think about it, especially since realistically if they didn't have any money they would go into administration and that would be it. Cameron would come back in, pick up the pieces and have a field day with this. If you look at Cameron's Linked in he's got nothing but banking experiences, he knows how to move the money around. He made this company into a .com robbed 200+ million from investors at the IPO, then fled. I don't know why he's holding onto his 3.5% stake ? He's probably got enough money out of it already ? Or perhaps he saw it all coming and was so devastated with what was about to come that he bailed on the company so that it wouldn't be associated to him now.