The company IS NOT "still making money" as you say (well from my...

The company IS NOT "still making money" as you say (well from my analysis of their latest profit update anyways).
Profit for the first half, from continuing business' was reported as $3.6 mio - they now say "underlying" profit for the full year will be in the range of $1.5-$2.0 mio.
Meaning they expect to lose around $2 mio in the second half.

After flogging of the jewel in the NLX crown - the hire operations - to reduce debt, they now are now resorting to approaching the second tier lending market for $10 mio to finance (another) restructure. Heaven knows what interest rate the lender will expect for such a poor credit risk - 15% would not surprise me. Having said that, based on the companys financials I would not lend them 1c !!