Well here's the truth of the matter. I assure you most of us are in similar or identical situations.
I hold 75,000 shares at an average price of 36 cents. That's $27,000. Octain I think you invested (spent) about $30,000. So my "investment" is worth about $5,250 give or take.
A properly executed debt/equity swap would see the share price beyond this level. So about this part I am not concerned. My concern is that the deal needs to be actually done.
My view (due to my occupation background) is High Conviction Value Investing. Similar to Warren Buffett whom I admire. But I am slightly poorer than he is (hehehe).
I haven't "written it off" because my investments are valuable to me. However, I certainly will not be selling on December 14 and buying back after any announcement. My view is that this is silly (based on the fact that my actions should not contradict my own beliefs).
Nobody got rich consistently timing the market that's just my view. Someone's signature is that quote about "sitting and waiting".
I can afford to lose another $5,000 (potentially) based on my belief and the macroeconomic factors that I believe are at play here.
Cheers.
CNP Price at posting:
6.7¢ Sentiment: None Disclosure: Held
