I think it's obvious that Craig is only speculating that the IPO won't happen, but I think he is correct.
The people who still own the stock aren't willing to accept what has happened. Don't forget that the IPO announcement caused the stock's price to tumble significantly. The news wasn't received well by shareholders, that they'd have to pay more to retain their ownership in a division they already owned 100%.
This was followed up by an idiotic reverse split which no competent management team would have undertaken, which led to a further loss of 2/3 of their investment!
I think it is very unlikely that an IPO can be floated that will have a greater value than its parent, let alone a much greater value. Of course, there are many greedy stockbrokers who will park all sorts of garbage into the accounts of their clients, but it seems that even these greedy stockbrokers know better than to have anything to do with Osicom.
We'll see in a few weeks.
Disclosure: I currently have no position in Osicom, but am interested in the psychological drama being played out, and am trying to decide which shareholder to feel most sorry for: Grand Elf, China Boy, etc. |
