RE: I can't see how this doesn't return value to shareholders7 Mar 2024 10:31
@Maxi19, good luck with that.
In almost 99% of all bankruptcies, shareholders don't get anything.
Think your hypotheritcal something realister:
- Saietta assets consist of dedicated production machinery. They do not own 100m of diamond, but in the best case 30m of IP value. This is only value on a production that is not yet finished. The assets such as production machinery will be made specifically for saietta and which other manufacturers are unlikely to want.
-so there might be a theoretical value of 100m, but in practice it might be 30m. In the end, it's also about what other people will give for it then.
- Given Saietta's numbers and burn rate in recent years, the cost of personnel and rent is a lot higher than that 20m.
We haven't heard anything about the amount of debt, but if they run out of cash as of September I expect the debt mountain to be quite high.
- In addition, first EY will start paying out their salary from that for administration costs and these will not be cheap. Then also the government the rest of the debts and only then come the shareholder.
So of that 30m worth of assets, maybe 1m goes to EY, 5m government and 30m to other debts.
Good luck with getting something. Just look at all the other bankruptcies, shareholders almost never get anything.
Oh and well don't forget that in the past no stuff has been sold from Saietta, only orders were placed that are worth nothing because Saietta cannot deliver. That means no money but will flow to Saietta.
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