I heard that when Amanda took over Debtors were running at close to $80mil so given tighter credit controls this cash would have come back in to reduce the bank debt and given that CDR is exiting or winding back exposure in many of these markets re-stocking would not have been required.
Just my thoughts but I think debt will fall - the big issue now is getting this SP to say 30 cents which gives us a market cap of roughly 65 mil and then I would undertake a rights issue of 1 for 1 to raise 65 mil to pay back the debt quicker - but we need good news to get to this point and perhaps another small cap insto to underwrite the issue.
Just my thoughts..
CDR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
