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So what is amazing is the deliberate time element designed to take the corporation. Instead of loaning NSI money to survive with while they try to find funding. Our two biggest shareholders were just buying time to force the sale to them by default. They set the terms well in advance of this outcome. Their loans were their down payments at the best possible price, their terms. If they had wanted to make Nautilus whole to production they could have done so with the pocket change they could find in their couches.
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Indeed. Not to mention DSMF essentially blocked any external funding efforts by demanding over $500m to make them whole on top of any asset purchase.
My only solace is the fact that my investment was relatively minimal as compared to others in my portfolio. Its just the future value and opportunity to have a stake in what could be a very lucrative operation that is the real loss. Maybe if we ask nicely they will give us some shares of the new operation.
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I would not rule out something for the shareholders. We will not know until the court acts. There are a lot of assets and not much debt. Plus the lease is with NUS not another entity. Can lease be transferred? The government has changed and no one is talking nice about NUS.
