May depend on if lenders have still been receiving interest paid. I seemed to have read that SS may take it on the chin for 1 or 2 loans where they think there is sufficient equity in the security. Use of their receiver to oversee sale is not counted as an automatic default, such as the recent Hackney sales I believe.
Presumably these are not a million miles away in format from confidential valuation reports we are allowed access to, possibly with less legalese without the same extent of RICS valuers covering their arses.
savingstreampaul et al, could you please make this key resource available as you continue to push in to development loans so that lenders can continue to support this growth area, as other platforms manage that we also invest in.
With the figures limited to end Dec 14, which are just terrible, this is more like an equity offering than a loan.
Sales were budgeted to be 2M+ and actually was just one unit 50K and. In fact the only element that was to budget was the 600K R&D which, it seems, hadn't produced a saleable product and was easily a year behind. The whole thing looks to me like a company more interesting in inventing than selling. And yes the boss is the inventor*
The physical security is prototypes! We are promised cross heart and hope to die they can afford it PG but not a charge. A number of people here can show their bruises from similar offerings on other platforms.
Unless we get 2015 figures which show a dramatic change of fortune (yes I have read the proposal document so maybe there are such figures, but their absence makes me doubt it), I'm outer than an outy thing on an outy day (and/or Elton John).
It gives me big doubts about the platform if this is the best we can get. What has happened to the aeroplanes?
* I'm allowed to say this I was an "inventor" of sorts and also the boss.
2015 accounts were filed on 26/6/16 showing a material net liabilities for the company.