forced sale to pay sedco claim?, page-28

Spuza12 - love your enthousiasm but a bid in the 10s to scare off other buyers? What buyers?? If somebody with sufficient cash backing to keep this baby alive were to offer 6 cents, shareholders would approve that in one nano second. Believe me, as much as it pains me, nobody in their right mind would offer anything over 6c for this company. They may, possibly, want to purchase some assets but that too will be at a considerable discount given NXS simply has no leverage.

Clearly you are also positively disposed to current management; not sure there is any objective reason to take that view. Current management has done nothing for this company (despite all the talk we have seen no asset sales, no new projects, no solution for funding,..etc. etc.). What management has done is stopped communicating and gone completely introvert. You cannot hide behind the mistakes of the previous management team forever - that's why LDM was hired to FIX the problems, not use the previous management as an excuse for why things continue to not go his way (people will cop that for a brief period of time but after that it is incumbent on you as the new MD to come up with solutions, actions, plans to fix what was wrong - you cannot simply take home a large salary and keep blaming others). Probably too late now but, as I mentioned a few times before, these guys should have been moved on a long time ago when it was clear they could not fix the problem. Would that be expensive? Yes. Would it have been best for shareholders? Most definitively! At the moment, we sit back and hope the world around us changes so our company is rescued by some miracle. Unlikely to happen - and not what management is getting paid for. I'd rather had them do something, anything, and have it back fire rather than this paralysis we have had to endure for the last year and a bit.