I guess when asking for money, you gotta be polite. But...

I guess when asking for money, you gotta be polite.

But passive/aggressive also works. Would definitely work if they make it sweet enough for the big boys but not at all bitter for us little ones.

Say that MRM need $50M extra to be comfortable and meet debt repayment. If it were to do an equity raising, the fee alone would be $5M? Then the price would be 20 or 15 cents even.

At that kind of dilution and fees, it's not doing anyone any good. Not the large shareholders - unless they want to take it over.

So if MRM were to offer generous interests, do some conversion or redeemable option where they can null the equity swap. That would see MRM through and the lost to shareholders in dilution or interest rate is negligible.

But let say the big boys aren't interested, or their terms are too harsh. Or they want the price to crash to takeover for strategic reasons... they'd have to collude, all three of them. And have to hope that no other white knights come calling.

But anyway, I've looked at MRM's FY16 balance sheets and as mentioned before... going by my simple line item and cashflow assumptions, MRM weren't broke or can't pay the bill tis coming New Year.

Depends on the Inpex and other jobs cash inflow; and maybe new wins... the second half might also be survivable without new cap raising.

I've run my little business and in tough times where the financial year showed a loss; we didn't go bankrupt because of that deadline... we simply move cash around, chase the bills and don't answer suppliers. Sure you'd go broke if the interests and financial positon and no jobs are coming in on time. But it's survivable for small tiny people like me with practically zero financing capability.

MRM is going to be alright.

But then again I did thought FY17 would be bad, didn't think it's be this bad.