Rebel. The way S.B. handles the $18 million loan will tell all of us what he thinks of his shareholders. Frankly, they stuffed up extremely badly with the sale of the coal asset which caused all of this strife. Imagine selling something to someone with no security, did not retain control until they were paid in full (try doing that with a house!!), then having to borrow from S.B., the same bloke that did the selling, giving him the assets of RSN as security???!!! Then he insists on being paid shares in lieu of the Convertible Notes that blew the Issued Capital out to 21 BILLION and destroyed the market for all other shareholders. Then does a 1:300 consolidation, crystalizing a 90% further loss to all shareholders and virtually rendering around 8,000 shareholders with un-marketable and worthless shares. He is the same bloke that owns over 30% of RSN and who is owed around $18 million. How comfortable are you that he will do the right thing this time? Tell me one thing that HE has done in the best interests of RSN shareholders, apart from continuing to extend loans and tightening the noose!! Sorry, but, I am reserving my judgement until it is all in writing. Sure, the assets are there, IN THE GROUND, but will remain there until enough cash is raised to pull them out. How many shareholders will still have an interest when that eventually happens and how much further will their equity be diluted??? S.B. is the only certainty???!!!
RSN Price at posting:
10.0¢ Sentiment: None Disclosure: Held
