I do find the relentless posting curious Alex but also agree...

I do find the relentless posting curious Alex but also agree with others that you do maintain a 'professional' levelheadedness.
My feeling on sgh is and has been all along that the vacuum has scared off insto, this has caused a large share price drop (oversold or rightly so is still to be determined). Insto don't want to risk what they can't calculate (brother in law is a hedge fund manager in London, but that seems common sense anyway).
Sgh paid a higher multiple for psd than usual but someone who enters below $1, has benefitted from a huge cap raising which half paid for psd which effectively means the acquisition was at half the multiple and therefore low. It cuts down on the individual acquisition costs once psd bedded in.

Obviously cash flow and reduced earnings may stretch/break covenants, but this in my opinion is already priced in. I personally don't think a cap raise will be required although do expect dividends to be suspended to offset the reduced short term earnings flagged.
I personally believe the share price will be above $1 in March which is a quick win for anyone entering now, but I also see sgh gradually building its sp back up for a sustained period this year and next