What could be done currently to ensure the company makes a come back and goes good on their debts etc?
Does anyone see the way forward for this business?
Directions and opportunities?
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Auditor resigning a week ago wasn’t a good sign either
everyone is resigning.... it's so obvious this company is dodgy as.
Appointing a new director who seems reasonably well connected and able is not the act of a dodgy company. A dodgy company would keep its business to itself and not invite scrutiny from a new director. I am guessing something has come out of left field and caused a huge rift between directors and Ronnie. The interest covenant problem was expected after loosing 4M$ stock and MacDonald would have known about that.
MacDonald probably talked into job by English and then when English packed a sad he thought he better go as well.
Disappointing to also see Danny Chan go, as I thought his connections with the region added a valuable contribution to the board.
The best we can expect would be that the board and Ronnie kiss and make up. I cannot think of a case previously where the board has resigned in unison. Hopefully we will find out what the bone of contention is and that there is a solution.
For Danny Chan to take a step like this means something is seriously seriously wrong. It will require far more than a kiss and make up or apology and handshake.