cut thru 22c like butter

Right-O. 21c.

That's my cue for the next leg down to 17c, thereafter 12c, pre CR of course, which means (for me at least) I can kiss goodbye to my $150k 'investment' in LYC since way back when. Dilution after a CR will bring us nearer to 3-5c ps imho.

However, I must qualify that to again say that I expect the suits in limos to arrive before that.

No, actually I HOPE the price maintains above 5c - you can be sure there are vultures circling as we speak.

The only trouble with these vultures is they won't want to pay 5c ps, probably.

If a CR does occur, as opposed to a liquidation, dependent on equity raised we'll be extremely lucky to see 5-7c ps imho immediately thereafter. Given the track record, as eloquently described in Proactive Investors last week, raising any more debt OR equity is now officially problematic. (If it wasn't the sp would now be scratching 25c by now, fwiw).

What a total & utter sham - just appalling.

As I've suggested earlier and reiterate now, there are more RE fish in the sea and potentially the major holders of debt and equity in the company might see the next couple of weeks as an opportunity to get rid once & for all, writing off any losses to tax.

That's what I'd be considering if I held major interests in this dog. If you had any doubts where I'd seen this scenario developing check back on my posts from around 2/13.

I predicted this would happen - fed by one lacklustre & limp report after another, excuse heaped upon excuse, all the while management bring paid royally.

I'll also wager anyone here $100 cash right now that the same old faces will be employed in the same or 'consultant' positions after any major restructure - only with bigger remuneration packages.

http://youtu.be/5fbvquHSPJU