A quick look at the DDT annual report from last year presents a basket case. Also, the DDT threads on Hot Copper shine the light on a company that is on its last breath, trying to find yet another way to squeeze money out of investors to keep Directors fed for a few more years.
When B-d Farm Paris Creek announced it was sold, I wondered why it had fetched a high price with no interest from former investor BFC. I found that a near dormant company POP had revived themselves with the purchase and a massive capital raising. That company is now LON, Longtable Group, and raised a massive amount to fund the purchase whilst also funding a Board of Directors that were losing money and needed to fund themselves. The reason I mention this is as DDT seems to be in the same boat. The is a fair bit of money out there for capital raisings. Some of it is going to be poorly used. It is hard to see how any DDT investors will cough up $7 million with the current management, just like it is hard to see anyone coughing up anything for BFC unless some changes happen.
BFC Price at posting:
23.5¢ Sentiment: Hold Disclosure: Held
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