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"Availability of the second facility is subject to the satisfaction of one of a number of milestones being reached by 8 April 2019."

Note the words "reached BY April 8th"

The legal system is a very slow and idle beast. Once the working day is over tomorrow, IMO there will not be an opportunity to make any REAL moves over the weekend as far as I can see. Of course MA is good at running his mouth off, but that's about all.

As of 8th April the second facility becomes the default funding option as far as I can see. For the avoidance of doubt I'll quote the RNS.

"If these milestones are not satisfied, the second facility would be available to the group's subsidiaries only upon transfer of those subsidiaries into the ownership of a lender-approved entity. This outcome would ensure the stability and continuing trading of the group's operating subsidiaries, with no disruption to the group's business, customers, employees, pension holders, suppliers or operations."

"However, it would very likely result in no equity value for the company's current shareholders."

Some people aren't. Some people think that once 8th April is gone there's still hope. Some people see the fat head as a man of good character with an undying love for shareholder well being.

My understanding is that the facility the BOD agreed upon will kick in by default on 8th April making it impossible for MA to buy the company without taking on infinitely more debt between then and the 22nd. If he's buying this, he needs to do it tomorrow or it's game over for everyone.

....then this will IMO be going for a major nosedive on the opening bell tomorrow.

LOL duster, I just really can not stand the absolute fat head.

........He reminds me of some scally who sees a car listed in the Autotrader, turns up, asks all the questions under the sun, thrashes the azz off it to see how it goes then after all that says, "I'll think about it" and you never hear from them again. Too arrogant to let you know they don't want it any more. MA is the ultimate time wasting fat head.

.......If MA intended to put in a real offer here why did he issue that crappy letter for shareholders to print out on the SPD website. The simple answer is that it was a desperate move.

The BOD have him over a barrel here. If he meets the BOD terms then the EGM he called to have them removed must be scrapped. MA is a total egoist who is only interested in running DEBS his way. If he meets their terms he won't be running the company his way full stop and it will cost him a large chunk of money for the privilege.

The BOD with their "We have also preserved a route for our shareholders to participate in the future of the business" BS, is simply their way of shifting some the blame to SPD and MA when their original facility is passed and shareholders are wiped out. They'll simply say "there was a way, but MA frustrated matters that could have saved shareholders", and in a way they'll be right.

.......in the last half hour and more tomorrow morning if MA doesn't come up with something very very soon.

LOL.

I think the reason there are so many doomsters here is because by Monday all shareholders will be wiped out if nothing happens in the next 24 hours. I'd say a sense of impending doom is quite natural given the circumstances.

........MA is waiting for this to go into administration. Pick it up for a pittance and write off his losses as a shareholder against his taxes. It will work out the cheapest option all round for him personally.

I suspect MA will be in charge of DEB one day, just nobody invested here will have anything to do with it at that point.

Auston, and just like the cowardly Captain, Mike Ashley is conducting the rescue mission from the safety of the mainland.

I agree eggroll. Like Donald Trump, people like MA are all talk. Just the usual fat head with cash on the hip and no more intelligent or successful than the people they pay handsomely to handle their financial affairs for them.

When it comes down to real business dexterity the best people like MA can do is bump their gums and whine like he did in that crappy letter on the SPD website for shareholders to fill out. Literally a letter begging that he be made boss of the world.

If anyone expect this fat lump to come to their rescue I'm literally dumbfounded.

......the azz is dropping out of this now. Good luck if you're gambling here.

........SPD website for shareholders to print off always smacked of desperation on MA's part. It suggested that SPD and MA were snookered and were simply left ranting away in the corner to themselves. That crumby letter reminded me of someone standing outside parliament with a megaphone chanting nonsense and actually thinking someone gives a fcku.

.......that if MA and SPD don't stump up some serious cash and guarantees by Monday the default position is the original funding route secured by the BOD which means shareholders get wiped out.

Once the EGM is out of the way and we get an update from the company we should easily move up from here now we know we have £5m more than MCap in cash alone. Almost no cash burn either.

We're just undervalued and overlooked at the moment, but with one piece of interesting news and a sustained rise in crypto prices I can easily see a bag from here in the coming days/weeks.

This is possibly the best value stock on the AIM at the moment. No cash burn, low MCap and cash coming out of our eyeballs. I'm sure the social media crew and commentators will pick up on us soon enough and we'll be off to the races.

......the idea of SPD not just taking on DEBS and all it's debt, but taking it on according to the very demanding terms laid out by the board seem highly unlikely to me.

The fact remains that if SPD takes this on according to the terms laid out it will be a massive risk for SPD and all it's shareholders. I just can't see it happening.

The only other way shareholders can be saved here is if MA digs around in his own pocket, and I can't see that happening either.

I can see him writing this off as a nice big juicy tax loss so he can live a merry tax free existence for the foreseeable courtesy of his gambling failures.

......is pretty poor at the moment. The odds of the default funding position secured by the BOD is still the most likely outcome. If the 5p offer by SPD does become official then there is 100% upside tops. As I said before, people are currently being offered Even money odds on a 10/1 shot. Seeing this trading around the same level it was trading at before the board even uttered the words "No shareholder value" seems a bit silly. This will probably crawl nearer 1p by Friday if something big doesn't happen in the next 48 hours.

........If MA was going to make a proper bid for this company it would have already happened. MA is as tight as a ducks a*se and will not like the terms the current board are demanding be met.