I was wondering about a possible NST takeover too. After...

I was wondering about a possible NST takeover too. After analysing both RND and TBR I can't see how NST could do it nighthawk.

There are not enough shares available for NST to get a foothold. There are only 3.5m shares approx. in TBR not held by any director's related party. Most of those loose shares in TBR are owned by J.P.Morgan Nominees Aust Ltd anyway.

God only knows how few RND shares are not held by the directors. According to the last annual report for RND they hold more than what is on issue!!!???. Obviously, there is some double accounting going on and that is reflective on how many related party companies are involved!!!! They can't even get the accounting accurate it seems, because the share holdings are over the place in so many entities.

Just have a look at the annual reports for both RND and TBR to see the vast list of related party entities doing deals with the two public listed companies. Loans written off, double dipping director's fees for running a schizophrenic corporate structure, hiring fees, consulting fees, rents, blah blah blah.

It is literally a rats nest.

Even though there might be some opportunity to get capital gains on the few shares trading freely on market, I just can't stomach the thought of being involved at all. IMHO there is no chance of being an investor and expecting to get any share holder benefit in divvies or return of capital. That seems obvious by their recorded history, simple analysis of the corporate structuring, and the disclosed related party transactions.

What is their master plan I wonder? (haha)

What walks like a duck and quacks like a duck?

Cheers