Charles, most of the ugly story was there in the 10-Q, and at the time I pointed out that the combination of very high non performing loans, with the presence of the floorless is poisonous. I did not foresee the current bid of $.05 or so, but the trail was there for everyone to see and take action (I think the stock was at 7 or so). If I was a shorter, I would have shorted, but I hate shorting stocks, so I had to pass on the opportunity.
Zeev
PS, I have just been askedf to look at HEC where they have about $50 MM in floorless, the stock is already down from 7 or so to 5, and I can see $2/share in the cards, but the people on that thread do not want to listen. As usual, the first question they have is if I am short the stock (Sankar first reaction was the same if memory serves). Maybe somme of the sufferers in CTYS should go out to that thread and warn them of the pains a floorless can inflict.
Zeev |
