The CFO leaving is an event where a bank will review the risks...

The CFO leaving is an event where a bank will review the risks associated with its client - reason being the exit of such a key exec is often a precursor to really bad news ... assuming it could get any worse.
Whilst I admire MB for the hard work he is obviously undertaking I dont get any feel at all for this group being able to move forward. This is evidenced in its inability to procure any contracts of value, which will all be due to its financial standing being so 'on the nose'.
I'd suggest there will be a serious consolidation of operations here to be a niche operator operating more below the radar and this maybe a good thing for the business but certainly would not justify being listed - or why not merge?