Well what a dud ! It appears the recap was not done at sufficient discount and all it has achieved is to appease the bank allowing time for a stock liquidation sale ala a persian rug factory clearance. Head line discount 40% - transactional discount anyones guess. Any of the remnant board has had its chance. Is there hope beyond a merger into something of interest? The cant even boast some nice industrial land in the growth corridors. There's a further haircut for shareholders coming but at least removing the menace of too tight a registry is worth the pain.
PBD Price at posting:
9.7¢ Sentiment: Sell Disclosure: Held