This is not going back up to $8 any time soon (if ever), especially with big dilution on the cards (look up anchoring effect, I'm afraid you are suffering from it my friend). It's in a completely different situation to when it was at that price.
I have now sold out and taken a hit. I was expecting at least break even cash flow even with restructuring cost, and once again they have failed to deliver (cash is king, especially in this situation). I really don't care about one-offs, they can't afford to still be bleeding cash. That combined with confirmation of recapitalisation was the final straw. For me they are not keeping their word. I will continue to monitor the company and might buy back in if the start hitting some goals, but it's been disappointment after disappointment for a while now. Best to just sit on the sidelines for now. If it means buying in at a slightly higher price than I sold out then so be it, but I've lost all faith in management for the time being.
I don't feel bitter at all, as I bought in when the risks were known and it didn't work out how I had hoped. You must accept the consequences of your own actions. Certainly many lessons learned, and it will be an interesting case study if nothing else from here on in.
I really feel for those holders that have been really long term and bought initially before all this drama unfolded. I really hope the company can pull through, but I don't see it happening without a big hit to current shareholders.
Final thought, just because they are still taking on big cases (class actions, etc) doesn't mean they will not fold. If they do survive, it doesn't necessarily mean shareholders will benefit.
Good luck to all those that are still in this stock. You could certainly do with some of it right now.
