market cap $80 million debt $335 million, page-31

To a degree Ut .
Time(duration) & timing (occurrence) are key considerations also, particularly in regard to appropriate management strategy & execution especially when market environment not supportive of the product in terms of price. Whether low or high POG price business should be positioned for profitability . If not, it should be flexible for measured & decisive change (productivity improvements/downsizing). This is even more pertinent when POG lower for longer.Also did SBM have this much debt to service before, which makes strategy critical IMO for sustainability.
In the past shareholder value & trust suffered through CR & share consolidations which have occurred in the past. So I look forward now and hope for a positive price cycle to resume & SBM management strategy to be more flexible.