My broker and I have been talking, this is what he emailed me today.... I have changed the names of brokers.
I have to say that we should wait just a little bit on adflex. I've been munching away on the stock below 3 but going for it in the options market could be tricky. Spoke to the CFO yesterday and told ******* and me that as of right now they are in default on some of their outstanding lines of credit, have no cash in the till at the moment and will be cash flow negative for the current quarter. It makes me wonder how they intend to make payroll going forward. Honestly, if the stock rallied to 6-7 I would dump what I just bought and SELL IT SHORT! I mean, why not, if they have no cash, losing what they have and the banks are breathing down their necks, how are they going to get out of this? The companys they sell to are asking for delays in shipping their product, no cash there, and their losing money now, so no cash there. I know it's cheap, but something without the ability to earn money, at the end of the day, is worth NOTHING! ******
Both of us are optomistic about Adflex, but agree to wait to see if this blows over. We are in the buying mode below three, at the moment.
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