Yes someone is dumping, still not much though, not institutional...

Yes someone is dumping, still not much though, not institutional investors as it will be impossible to unload at this market. I bought more today @0.064.

Its now trading on the assumption that the TC is officially worth 0, that in the space of two weeks they have lost every 300k customers and their financial advisory arm is completely written off. Now this week AMP just sold their life insurance division for 20% discount to book value, which apparently outraged their institutional shareholders. If FIG's TC is worth just 40% of their book value and assuming Spectrum is completely written off, that's still a NTA around 15c per share (including $5m reduction in cash).

Frankly none of this I care about anymore, this stock has entered deep into net-net category, as such it now belong to my net-net group of stocks where I don't pay much attention any more.