Your point that BSA seems to have long operated as a charity is a point that I have also made before. Why is BSA not able to make an ordinary margin? I am not just talking about the recent covid affected results, it seems to have been ever thus. It is not as if they are competing with the product of slave labour in another country. Do BSA's competitors make any money? SSM would seem to be one of them and it is in the toilet as well.
I am surprised that the SP is sitting at anything more than 10 cents, given the overhang of 10 cent shares and the overhang of 10 cent options. I wonder if the major holders see the entitlement issue and the options as a way of moving closer to taking it private.
Cheers
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BSA Price at posting:
10.5¢ Sentiment: None Disclosure: Held
