Yeah, this is a completely immaterial, valueless MOE. There is no initiative here at all.
The only value in this stock is in the comedy and humour of the announcement feed, and in speculating how long the execs can keep the gravy train flowing.
After 8 years of trying -- EIGHT YEARS!! -- it is crystal clear the gear just doesn't work in any meaningful way.
So the current MC is about 50x overvalue. We will start to see this reflected in a long painful succession of cap raises I suspect. I wish I could make money on that somehow but no borrow anywhere.
RCE Price at posting:
47.5¢ Sentiment: None Disclosure: Held
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