NMS

The previous CEO was clever at deceiving me that the company was doing well. He has overspent and debt is not tolerated during GFC. Mermaid Marine got most of the servicing contracts in NW Shelf. And there was trouble in the Gulf Of Mexico, courtesy of Tony Hayward's lack of insight into quality control within BP.

The last profit statement suggests that the company is turning around with the new CEO. And there is an entitlement for current shareholders. This company has turned out to be a big loss but the problem is if you don't participate, you will sustain a bigger loss due to a massive dilution of your current holding by the much cheaper entitlement. It is a Catch 22 situation.

If the latest profit projection is true and not a con trick, then you will have no choice but to feed more money into the company to keep it alive and hopefully, makes a bigger profit as it suggests.