"Does anyone know the status of this company. Is it broke?"
It pretty much looks like it, given that the substantial holder transferred about 4.4% of OTR's shares for the nominal sum of $1.
Presumably they did that to crystallize the loss prior to the end of the financial year.
On that basis the entire company is worth about $22.73
The fact that the substantial holder didn't "dispose" of their entire holding suggests that they might harbour a shy hope that the shares are worth something, or maybe they just didn't need the loss just then.
I suspect that OTR's lenders effectively own OTR at this point
However, just to be sure, I am inclined to hang onto my shares until the fat lady announces that they are worthless.
I wish I could get Comsec to remove OTR from my portfolio list so I don't have to look at the steaming sack of ordure anymore. It's a blot on my escutcheon.
Not the biggest blot, but up there.
My first such blot was in the late 1980s when I burnt about $8k in a company that shall remain nameless to protect the guilty.
It emerged later that the young upthrusting CEO wasn't entirely focused on the job.
Not his day job anyway.
If memory serves, it was later reported in the press that he was in the habit of nipping around to his wife's sister's place for a spot of horizontal jogging.
Knowing that didn't make my loss any easier to take.
She was not the only one who got screwed but presumably she at least enjoyed the experience!!!
Cheers
OTR Price at posting:
31.5¢ Sentiment: None Disclosure: Held
