Hello Alan, and Don,
I bought this stock when it was 5 dollars a share. I should have sold
it when it went to 6.50. I held on and even averaged down after
listening to investor relations talk about the imminent deal with
Yemen. It was always "we have the best offer on the table" and "we
should hear something next week". I had the opprotunity to talk with
DR. Laycroft on a few occasions. I have to admit, he always seemed
very hopeful about TGLEF's future. But then again, how would an
investor expect him to sound considering his position with the
company? During an investors telephone conference either late last
year or early this year, many people talked about the need for a good IR firm. Investors even offered to come on board to help the company
get the word out. I got tired of throwing good money after bad <IMO>.
After the deal was announced and the stock hardly moved, I finally
sold all of my shares with the exception of the shares I still have in
my IRA. During the telephone conference, I believe a book value of
around 2.75 was thrown out. If this is true, why the heck is the
stock only trading at around 1.00. I still have faint hopes for the
company. But I am not willing to bet new money on it at this point. I
finally have gotten back financially to where I was before I invested
in this company. Maybe TGLEF is a good deal now at 1.00, but when it
was 5.00, 4.00, 3.00, it was only a good tax-loss.
Regards,
Richard |
