re: Ann: Half Year Report December 2012 - CBD... Read note 2 -...

re: Ann: Half Year Report December 2012 - CBD... Read note 2 - The only thing standing between CBD and insolvency is flexible lenders and suppliers. A few more big project sales are needed to balance the books. Only then will you will see the P/E go above 2 or 3. Sure this could go to 5 c on this report, but the risk of insolvency is still material and weighing heavily. Also, people who only want ASX-listed shares will be selling / not buying causing more drag. If insolvency is avoided and the merger/NASDAQ listing successful, we should have at least a 10-bagger from here within 18 months.