I did some homework (shock horror!) and found information that made me swing very rapidly to the NO camp.
If you look back a bit you can see what it was that swayed me.
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Realistically no banks will lend money to PEB until such time as it is profitable and shows sustainable profit and cash flow.
So there's no credit in PEB having no debt - in fact, it will be to PEB's credit if it had been able to obtain debt - huge vote of confidence from the banks!
As i have mentioned, in many years of looking at many many balance sheets, I cannot recall seeing trade receivables higher than sales revenue!
No wonder the results presentation had this memorable line : "Utilisation of $0.6m of cash in 1H15, including funding received from short term deposits"
The $66m of equity shareholders have put in worth $240m on the market
That's a pretty decent return over the years
PEB are doing well
W69, that's what they said about Rakon and Plus SMS, remember - $1 in at IPO was worth $4 at one stage in Rakon, and $1 in Plus SMS was worth $2000 at one stage.
Profits and returns have to be booked before any shareholder can say he/she has done well.
Masfen, Huljich and a few others had been selling so they have done well.