If people spend just a few minutes to look at the the annual report, you would start to wonder how long SIP will survive:
The auditor's report: Emphasis of Matter - Significant Uncertainty Regarding Continuation as a Going Concern (page 95);
And when you read the new loan covenants, you'll wonder how the SIP board/management can manage such a set of complex and strict set of covenants while running the business or taking initiative to improve the business.
If the board/management was not able to manage the company well in the first place, it is certainly impossible for them to do anything better with the new bank covenants.
Above all, they have lost ALL the credibility by now.
I am glad I sold a few months ago.
Please do your own research.
SIP Price at posting:
53.5¢ Sentiment: Sell Disclosure: Not Held
