As the DDT shareholders were advised, the Beston merger is still...

As the DDT shareholders were advised, the Beston merger is still on the cards. One would expect, that Datadot will be merging with a company that is successful, well run and hopefully profitable - with available cash. The reality is a complete the opposite.

Beston results (lodged at 5.30 pm on the last day allowable by ASX):* $16.5 Million operating LOSS

* Current Liabilities increased from $10 Mill to $36 Mil.
* Cash on Hand decreased from $29 Mil to $4 Mil
* Borrowings payable on demand or within 3 months = $21 Mil

Check out the management fees to Sexton and others and do the math.

Merger with a company such as this and with very similar corporate culture as the current DDT has is just a terrible option for the shareholders. The only people that will benefit from such a merger are DDT board and Beston Chairman Sexton. Nobody else.