I understand all that. And I have also read some of Head's explanations - which are very good reading.
I've also observed the trading and have thought, as you described, that it reflected on-going conversion. It's difficult, if not impossible, to know when the financing was finalized and, also, if it is indeed floorless or not. Ditchdigger, or anybody else, who states as "fact" that it is, is actually just speculating.
However, once that's finished (conversion), it arrives at the "end game" doesn't it? That's what I'm watching for. It doesn't matter if you or anybody else agrees, it will happen regardless.
Young, start-up companies must sometimes do what it takes to get "going". That is putting it very simplistically, I know, but why do so many get "up in arms" about it? The crux of the matter is do they have what they say they have? Leases, the pump, stripper wells? Yes.
I just happen to think that when the end game point is reached, this one will be worth the wait. Agree or not, that's your choice. It really doesn't matter to me one way or the other if you or anybody else agrees. You don't buy based on another's opinion do you? We each buy according to our own opinion, gut instinct, information, risk tolerance, etc.
Why don't we just leave it at that. |
