Paunch, it is very difficult to admit that an investment has turned worthless (I know, I have one little one like that in GRNO), but the worst thing to do is to throw "good money" after "bad money". Yes, I do not own any shares in IPMCF, this is why it easier for me to look at the economics of "restarting" the company or starting anew. The "calculus" is very simple, if IPMCF has "hidden" assets that are not represented in its current price and are worth much more than what the bankruptcy court will offer IPM at, then, sure it is a good deal. But before you put money in this make sure that indeed there are such "hidden assets". I for one, do not think there are any such assets. The property is essentially not theirs, they have not developed a viable process, so what is there? Just accumulated debt, and a corporate shell that could possibly be used to raise new money. On the other hand, you must ask yourself if their are better returns for such new monies elsewhere in the DD arena (assuming, of course that this new money is in general DD plays money, otherwise, just by treasuries).
Zeev |
