Yep, I sold out a pretty substantial loss but feel like I made the right call. This is just a vehicle for the directors to enrich themselves and indulge in some fantastical notions.
If the directors were serious about generating shareholder value they would have distributed the BSM shares when MFC was trading at below the value of the BSM holding alone.
Oh well, live and learn. I will be more careful to avoid these types of companies in the future.
MFC Price at posting:
3.7¢ Sentiment: LT Sell Disclosure: Not Held
