I sold a little while on a trading opportunity and I have to say, watching the way the project has been handled leads me to believe that the managers ended up being a bunch of opportunistic morons. It’s no wonder trahar stepped down as evidently he was way out of his depth. At least his over optimistic and oblivious approach led him to convert his debt into equity at .055. To be fair covid supply chain disruptions have indeed messed things up for big construction projects so that’s out of their hands, but who the hell wS forecasting and budgeting the project? Clearly they underestimated costs by a significant margin and that is coming to bite the company.
I have no idea what kind of deal might be worked out in light of the current news. It does seem like it will be a slow grind and I wonder what catalysts there are in the short term to justify any type of rally.
feel sorry for shareholders but in the end we invest greatly in people. Some know what they are doing and others are exposed for their incompetence. I hope for everyone that this management is not the latter, though they seem to be proving themselves so…
SFG Price at posting:
4.4¢ Sentiment: None Disclosure: Not Held
