Even if there is any value left in the underlying business, which I doubt, who would trust this bunch of clowns with their money again. What a fiasco - a 321M write-down. These clowns are still counting Intangible assets and goodwill at 157M with total equity of 98M - Brand labels 105M?. Who would trust the current figure and when will it be written down? Who would trust them not to channel stuff or another underhanded process just to suck the last life out of shareholders. They front load management with huge fees and bonuses, even in the wake of shareholder annihilation. Based on historical precedence we can assume shareholders will be last in any decision these guys make. And this doesnt take into account the risk of likely looming litigation they may face.
BWX Price at posting:
29.5¢ Sentiment: Sell Disclosure: Not Held
