I assume the business is legit (ie: not a fake).
I admit the numbers are good. Especially revenue, cash, NTAV.
I am very aware that I own a piece of the company, as you state.
In fact, it is my ownership of the company that has me aghast at the corporate governance and the complete disregard of the main man has for other folks that own a piece of the company. Namely;
- The maximum amount of capex being expensed this year diminishing shareholders EPS.
- People completely unrelated to the business get $10 Million in loans guaranteed while holders get shafted double with reduced EPS and no dividend. Whose interests are really being served there???
- No dividend comes about and explained as a result of potential further capital deployed in 2015. Didn't they just spend half the market cap in 2014 on that and now I prepare for another hit????? Is this to suggest that the first year fee of such expenses will be 2016 so not reported till Feb 2017???
Sure, while the money is 'reinvested' into the company I own a piece of it is also a question on when, if ever, I will see EPS or dividend return. As you say, it may be darkest before the dawn, but looks like it may be still dark for a while now. The Stockholm Syndrome being shown by the ultra-bulls is getting a bit ridiculous.
SBB Price at posting:
5.3¢ Sentiment: Hold Disclosure: Held
