Regarding some of your questions:
1) The AMEX listing has been brought up several times this weekend, as if the company blew their chance. The AMEX listing was prevented by the rapid fall in the stock price to under a dollar. The reasons for that fall have been discussed in miles of this thread. If the stock can hold a "reasonable" AMEX price of 3 to 5 for an extended period of time, there is no reason to suppose that AMEX won't welcome their re-application (though now, with a full explanation of this incident and its results). Given my opinion that LEAH has been attacked, with the SEC used as a weapon, I fully expect the stock to begin trading again on the stated 3-25 (26?) date and to eventually trade on AMEX.
2) Statements: The better the accountants are, the more time they will claim to finish your audit. Until Friday, I expected further delays into April with D & T, given the complexity and geographical difficulties of this task. Now, like it or not, LEAH's very life depends on the audit being completed and published QUICKLY. Probably, IMO, before another share is bought or sold. If that doesn't focus the full time and attention of LEAH's principles and their D & T audit team, I can't imagine what would.
3) Regarding quality of reserves. Few who invest in LEAH (including me) will ever have the slightest clue about such things. Neither will most people who invest in Texaco or Exxon. It's simply a non-issue. If you buy an oil producer you are going to have to trust the judgement of whomever's job it is to determine that for you. And in this case, you will have to trust in D & T for having checked it out appropriately.
4) Finally, regarding projected BV and earnings, the Street DOES NOT believe they are anywhere close to what we believe them to be. If your long this stock, your bet is purely and simply that the Street, in this case, really IS that inefficient. If that is NOT why someone is long, let him post, and tell us something VERY new. |
