We sell 42.5% stake in part of the company for $15,000,000. The whole group now is valued at just over £11.000,000. Something does not add up. The company has to multibag to find the real value.
What is the company talking about when it says it can pay back from revenue. There is no revenue that is why the banks wants its money back, and back in the next 7 days. The shares must therefor shortly be suspended as the company is NOT a going concern. The company itself must announce that the creditor has be protected and should call in the administrators to protect the banks assets. Zero for the shareholders.
Pi cannot stomach another placing, but the company has no cash to pay off the loan. Obviously the creditor wants its cash as it sees the business could collapse. These shares have then, zero value. Troubling.