"In late 2015 and early 2016, KBL was under capitalised to the point that it became necessary to negotiate with key suppliers, contractors and statutory bodies in order to extend payment terms and manage day to day liquidity. Throughout 2016, the company was unable to source a longer term capital solution from financiers or equity markets and, in our preliminary view, may have traded whilst insolvent from January 2016 onwards, although a liquidator (if appointed) would need to do further work through investigations to prove up that date."
Considering they raised funds with the options in July 2016 and I think the hc advertising after January too, there could be a case. I didn't have large sums or buy as a result of the advertising and was aware it was akin to red/black at a casino but if wrongdoing occurred they should be held to account
KBL Price at posting:
0.1¢ Sentiment: None Disclosure: Held
