Like many here I’ve taken a wash on SAS and one would have to expect it to open <$0.01 if it opens. It was always a speculative position for me so I can see it for what it is; one blemish in an otherwise successful portfolio. Unlike many I don’t think the company exists for the fraudulent purposes. No arguments that there has been some mismanagement and it has really hurt the company. Especially when you consider that the company could fail even if management hadn’t put afoot wrong. It’s why investing in specs isn’t for everyone.
I am personally happy with the latest announcement. I’m glad there is something resembling a plan moving forward. The dilution was always expected, granted not this much.Under the current circumstances I don’t see any other viable options. Good news is there’s still some life left in this one for now. Where there is life there is hope they say. I’m going to stay on this ride and see where it ends up.
