RE: No Comparison Between SYQT and BOST.
>> I'm grasping for straws too, but the Boston Market Chapter 11 is not a fair comparison. <<
I almost posted a similar message when I read that, but didn't have time. The only similarity between SYQT and BOST was that they both filed Chapter 11. The similarities stop there.
If SYQT emerges from Chapter 11 and tries to pick up where they left off (selling below cost, diluting shares, etc), the next step will be Chapter 7. They just don't have a workable business plan.
The only way they can return value to shareholders in my opinion, is as a shell company. They'll sell off their assets and intellectual property, and then what's left? A company with minimal revenues and minimal expenses. What's that worth? By itself, almost nothing. But with the tax loss reserves that SyQuest has built up, they could be worth a lot to a profitable company. (Probably well under $1 per share to stockholders, but more than "worthless".)
That's my take.
- Michael Coley
- wwol.com |
