I haven't sold a share of my 1500 share position but I need to share some dirt
My sources say that the firm has debt coming due in Aug and are being Strungle along with wells Fargo because they won't lend it. The other source is a equity offering but shares are so low they will not want to do it. They have the option to convert prefereds into common to meet the payment and I personally believe its priced in
The firm fired their investor relations guy and from what I hear, have no returned calls to big holders, hence the selling. The CEO has tons of shares, so he doesn't want to see bankruptcy. This is the card in the deck I like because he will file before he sells or will do everything in his power to get funding because they got a chance
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