Well i bought while the stock was dropping because Hugh was implying everything was fine. The last thing that came out of TMR's mouth before they went into suspension was they may need to offload IBR assets and were also looking for a JV.
They've been hiding something from investors and obviously their creditors hence why they've gone straight from Voluntary Administration to Receivership. The accounts found something bad very fast.
Anyone know anything about Meridian Capital, maybe these guys got caught up in subprime and are calling in all their loans to pay off their own debt.
Hugh will get into some trouble, TMR put themselves on the map in a big way and a lot of top brokers were tipping them the past 12 months. It's not just a few mum and dad traders, they're going to have to content with some big players as well.
TMR Price at posting:
1.4¢ Sentiment: None Disclosure: Not Held
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