Ezion Holdings thus far is probably the largest investing mistake I have made so far. So perhaps its good to do an after action review of it.
Turn of Events- The straw that broke the Camel’s back
The recent announcement of Ezion not having obtained its working capital financing is the most damaging issue. My mistake was that I had assumed when Ezion paid its lenders on 3 July 2018 the consent fee to obtain the working capital loan, it would have meant that the loan will be given soon after; however, it seems not to be the case.
7 Months on, Ezion has not obtained a working capital loan and is in a liquidity issue. This has resulted in its liftboats not being able to rented out because customers do not trust if Ezion can service and operationalise its lifeboats. As for the jack up rigs, Ezion has not been able to