Ann: Early Resolution of CPS and Pro-rata Offer Presentation, page-35

Yes well whether SWM is dying or merely being severely injured doesn't matter that much (from a shorting point of view), the important point is they've been steadily declining for about eight years and there's no reason I can see why that shouldn't continue (and I think accelerate.) I should point out that it's lost about 10% in value in just the last few trading days on considerably increased volume, which shows that people have been selling much more enthusiastically. Just looking at the chart, the last time there was a similar burst of volume on the downside was in late August last year, when in a few months the price plunged from above $2 to nearly $1.20. A similar fall now would take the sp down to around 80c.

Re accountants I defer to their greater understanding of a company's accounts, but I'm a lot more experienced reading charts than he is