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I am a long term holder and am now seriously concerned about the future of the company. With the collapse of Billingham project and all that is happening on other projects (delay after delay) I now suspect investors have been taken for a ride. I think it is time for shareholders to take action.
I too am a lawyer. The concern I have is that Maxwell feels it has such a strong position as to merit an application for summary judgement. In the UK you only do that if you can show the opponent has only a minimal chance of success. But who knows in the USA?
There’s a nasty smell about this business. Everyone seems to think the potential product is going to be ok but the way things are run and the lack of transparency is worrying. I suspect the business will go into a pre-pa k administration with the IP etc being purchased by those currently connected with the BOD. Asset stripping or scamming?