They did managed to sell the bases and slipway for a couple million less than book value at 2016.
Maybe an equity raising would have been better. But then that'd be selling the company for 20c on a dollar. Which might be fine if current shareholders take it all up but a disaster if new investor and privateers with cash comes in.
A shame to have to sell thebases, but at least they'll survive and no ownership dilution.
They did managed to sell the bases and slipway for a couple...
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