re: ready to come out of suspension just had a look at their financial report since i am curious and i would not touch them for anything. Bad product, company making losses, just sold their stake in RewardsCorp which was their best earner last year so the market may not be pleased. A stake they bought end of 2005 so they were desperate for the money. Besides, it was old news. The market knew about it since August.
They have a current ratio of 0.23. That's awful. For every $1 in current liability they have 23 cents of current assets. This company is in economic distress.
They only have about $172 000 in cash and may need a cap raising quickly.
No doubt they have used the suspension to try and salvage the company. The cash from RewardsCorp will inject some much needed capital but also gets rid of their best asset.
But going forward their product is non-desirable.
Nobody in Australia wants to live in mobile homes. Their target market is nobody
re: ready to come out of suspension, page-15
-
- There are more pages in this discussion • 12 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
