RE: Please Panic intelligently4 Nov 2020 18:55
I sold out at 7.1p. . . To be honest, what concerned me the most was the increase in provision, versus the cash held and the timeline of paying out the claims, collection of debts combined with the pending securitisation review in December. For me, my comfort blanket was the NAV of 36p. At this moment in time I am expecting a NAV of 17-19p, come the release of the Q2 results.
If the company can push forward and survive this year, which I genuinely hope that they do, then happy days. I do wonder if James will swoop in, pay off the securitisation in exchange for "some instrument / equity raise" and retake control. I am watching carefully. . . but not looking at putting my hard earned money back in just yet. There are many scenarios where this could pull through, however for now I can only go with what risk / reward ration that I can see. I think 5p is a real possibility, with an outside change of dropping to 4p. A lot depends on speculation and the Q2 results. At this moment in time it is a punt as anything could happen.