Speaking for myself bailing out is not really an option, so it's sit tight for the magical mystery tour.. What I still find unconscionable is that the company have lead us all up the garden path, and are now simply prepared to paper over the last couple of years as if they never existed. I hope the luxury yacht Ron bought has got woodworm (below the waterline)
The only plus side to this is that is their accounting policies have caused this debit write down, so they might still be paid, but personally I have argued this successfully with auditors many times in the past and won keeping old debtors asset in the balance sheets. For instance GSPC is government owned so its financial position is irrelevant for writing down purposes. With Bolton being a new CFO at Oilex he has no ownership of this debt though so it is risk free for him to write it off in… Read More
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