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Originally Posted by biker
I agree there is greater risk of downside than upside at the moment , but I am in there for a possible short term bounce, but fully aware that a balance sheet restructure may be painful. If however, they plan to raise more capital in the way you prescribe, they will have to have a pretty comprehensive, positive story, backed by an entity that isn't just the Robinsons.
If you believe in MBO, isn't that exactly what will happen (indirectly)? The Robinsons will not be dumb enough to use their own money to take the gamble - it will be somebody's else's money and a 5 for 1 at 5 cents will certainly see the punters surrender their rights to the underwriters (especially if connected to Robinson).
Come to think of it, why would the Robinsons want to do a MBO? They already have control of the company in every shape and form, and have been happily taking in funds from the likes of Harbour to run Rakon (into the ground) while paying themselves huge salaries and benefits.
BMW Rakon 1, Rakon 2 etc, anyone?
Reminds me of Helicopter Line under Chris Alpe - Mercedes S Class Maui 1, Maui 2 etc.
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