Ok this is clear extortion from the old guy and it seems the management works in accordance with him!
The business is still profitable and working capital positive and has a waiver until Dec 2018.
What happens after Dec? Unknown..with those jokers managing I am not hopeful BUT I am not sure that the old guy will not waiver again..why? Because except being the lender he is also the main owner (and as it seems he is in total management control like having 100% of the shares) SO I am not sure that he will demand liquidation, because it would be like shooting his own feet.
Provided that he has time until Dec 2018... God give him and all time ofcourse.
GFY Price at posting:
28.5¢ Sentiment: Hold Disclosure: Held
