I agree that hindsight wisdom is cheap. I felt betrayed and started speaking out against management more then a year ago.
I believe the financial results will not be good for several reasons including;
- AG dumped and rest of board to follow.
- CA would not settle if more compensation will be available.
- Debt is higher now then ever before.
- Shareholders less inclined to vote for dilution if company now making money.
- Anchorage et al will have to pay higher cost for shares at recap.
- Anchorage wants to reset and start afresh with a clean slate.
I believe new all time lows are coming before long and only after recapitalisation will there be any sustained uptrend.
SGH Price at posting:
8.3¢ Sentiment: Sell Disclosure: Not Held
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