Pete, if EIF were to be controlled by ECGOF, then wouldn't EIF's loses be included in ECGOF's income statement? I don't think ECGOF is going to rush into obtaining EIF shares unless they have a really compelling reason to. At this time, I don't see one.
A while ago, I posted about this company in a generally negative way. I was treated harshly (especially on the Motley Fool). After the refinancing came out, I bought some stock and sold it @ about $ 13.
The lessen that should be learned, besides not trusting what a company says, is to sell as stock if it goes lower than you think it should. For instance, if one were to buy ECGOF at $ 9.00, and felt that was the low end of where it should sell, would he want to hold a large position as it continued to fall? I would say no (now if only holding a small position, and being very sure about what you are doing, then you could average down).
I've seen so many investors (I used to make that mistake) hold a stock as it became a big winner, only to watch it fall into being a loser. I've also seen people buy stocks they liked, only to watch them fall almost any day.
My motto: Hold it as long as it is not acting unusual (and is going up), but to be quick to sell it when it starts to act unusual or to back down from an impressive rally.
Your one winner can make back all your loses, plus, but to hold a loser too long is a rookie mistake.
In my opinion, the Canadian vs US reporting mix up is a joke. A very bad joke by management.
FTEL: $ 8.69b $ 8.88a
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