Always gotta jump in and read PK's missives before they get moderated. What a scorcher.
But dark fantasies aside, they're pretty much done, surely. It would be extraordinary for someone to invest more money at this stage. Even prior to the costs order, they looked uninvestable, given the civil settlement and the general mediocrity of their business. Last November's filing suggested they are down to about a quarter's worth of cash.
It now has to be a risk to bother going into business with them - why integrate their software when they are likely to disappear within a few months? It's not clear what happens to Logo d.o.o given that GSW only part-owns them - a smart strategy for those guys would be to buy up a bit of stock and get back majority control, then clean up the stock holding for cents on the dollar. Not obvious what having a minority stake in a private Serbian cabling company would get anyone.
I would guess that Joel is looking to pivot to crypto as the next con. A lot of grifters in that space already, of course. Maybe try "SwiftCoin" or something, or a whole new enterprise. I'm guessing they'll just blanket appeal everything and run the clock for a while, putting off the final reckoning, but on conventional metrics, they'd be lucky to last another quarter.
GSW Price at posting:
29.0¢ Sentiment: Sell Disclosure: Not Held
