I am not as quick to jump ship (no pun intended) on this company yet. The fact that the drilling company will not provide audited financials is one of concern, but I have seen many many deals get put together in spite of what may appear to be insurmountable obstacles. So, as far as the deal with the drilling service goes, it ain't over till the fat lady sings.
Im planning on giving these folks a little more time to get things together. Call it a gamble, but heck, they ALL are gambles. Remember, it wasn't that long ago that people were calling AVBC a dog. I would HATE to think I sold now, and then six months from now saw this company soar.
Jeff, I understand and appreciate your concerns on this one. Heck, I would be lying if I said I have not shared those concerns recently. I agree with the principle that there is a difference between investing and trading. I think people should know before they buy whether they are buying for the long term (investing) or for the short term (trading). Agreed, with CNHH, it was difficult to tell, as there was not an awful lot of info available. But, I certainly appreciate the fact that the information that has been made available has been limited to FACT, and not wishful thinking or speculation.
Would I like to see this company more defined? Sure I would. However, when I want to feel nice and cozy with a stock, I usually end up paying a lot more for it than I have in this case.
Am I concerned? Of course I am. Am I worried? No.
It is from the ashes of what would appear to be ruins that the phoenix usually rises.
Good Luck to us all,
:-)
Binder
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