In my opinion the board are perhaps in a pickle. They are hoping something good is on the horizon in good results. The last results were disappointing and very ordinary compared to its peers and that is evident in the lower SP. The board has probably been strategizing a way forward and has perhaps purposely withheld results to try to come up with something good. Many others seem to be doing the same.
To be honest, I think Brian's comments were about as much shine that he could muster for the announcement with those results without having to amend the announcement. He even had to bring Nb on board in a big way to soften the blow. I think their strategy now is to give some good news if any to institutional investors and raise $1m while the SP is low. Its the only way to get them on board at a time like this. This would start with a trading halt. Then hopefully come up hopefully with some decent results to give the SP a kick along. I've said many times that minnow sized companies like LNR are about survival. They don't care about retail. They never have. If, they run out of money, they are goners, and we have to understand that keeping afloat is better than being mollycoddled to.
LNR Price at posting:
1.1¢ Sentiment: Hold Disclosure: Held
