Iofina – what’s wrong? When is the rescue bailout going to be announced?

While most shares are making steady progress, the share price of AIM Cesspit listed Iofina (IOF) continues to drift and at 59p it is at its lowest since December 2012. Is something wrong? Almost certainly the answer is yes but since its dickhead of a PR man refuses to speak to me I cannot put the question to it directly, I just assume that bad news is on the way.

At a 59p share price the company is capitalised at £75 million. It has debts of $15 million (more on that later). We still await calendar 2013 results but a grisly trading statement/profits warning in December indicates that cash as at the year end was not a million miles away from sod all.  And Iofina continues to burn cash.

Now that leads me to one conclusion 

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