Not sure if I'll ever buy back in, since there's no sign of moving toward breakeven in our lifetimes. They're a long way away and nothing on the cost side is coming down. What is a discount to cash now may one day be a premium.
That said, they had 50 mil shares out before (42 mil float), so now it's 12.5 mil and 10.5 mil, which is not that thin a float. It's big enough that, if the company ever performs business-wise, the liquidity and market cap can quickly get big enough for funds to buy again. And better a smaller float than go to the OTCBB, IMO.
So, any reason you see to expect the business itself to turn around? If so, maybe I'll buy under 2.
Bob |
