Certainly got a "mea culpa" tone about the explanation. It's a big and stupid amateur mistake in business negotiation. I want to agree with Marek that we might have dodged a bullet re Saputo. After all, it did end with a signed MOU... but I've also got to agree with Norfolk with concerns for what else they've bullshitted about. They've got form when it comes to exaggerating how far advanced things are.
I don't know about the rest of you, but I'm in a quandry with this stock in my portfolio. I've trimmed and it's burnt me for 6 figures of loss. But I'm also still holding a residual amount in case they've learnt from the mistakes and will eventually turn around. I'm sort of tempted to buy more at a low DCA of 15cents, but I want to see true signs of a change.
They are on the nose and would have a hard time raising fresh capital. I fear they could still burn through the cash, not be able to sell lupin at a profit and just fold in a BK heap.
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