Medication kicking in now. I am not to sure about all this conspircy rhetoric. Just a few points i will offer to offer an alternate view.
1. I and many others posted that after coming out with the earnings and then not achieving it, ICP would get smashed. The CFO got the blame and was replaced.
2. Care to take a look at MYA TSN GRG CUS sp all down similar amounts as ICP. However ICP have very small debt compared to CUS for example, i have not checked the others for debt levels. ICP are in profit (just even if you take out that 2.4m loan to BCT)
3. ICP largest shareholder Union Pacific has cleaned out his cupboard, which contributed to most of the slide.
4. The drop from 24cents to 18 was on a volume of 100k shares. No one wants to buy a stock that fails to make forcast and is in a slide. Every single holder is in the red, so end of year selling is going to be severe. Even traders don't want this stock anymore!!!! (i read that somewhere)
5. If its true that ICP are losing economic control of NEO then why would they have negotiated to increse their holding from just under 50% to over 80% when they only needed 5%?
6. The conspiricy theorists here are all non holders. Now don't get me wrong, i would like to be a non holder as well at this point in time. I had two opportunities to get out with my stake in the last 6 months, and hindsight now tells me i should have. But i am not selling at this level, after all its my money so my choice.
7. I am waiting for the FY11 results. I am also waiting for imformation around the purchase of a further 30% of NEO with the share dilution and where JM is going to raise $10mil in this troubled world. Remember this deal with NEO HAS TO BE AGREED TO BY THE CURRENT SHAREHOLDERS which still hold the 80-90 mill shares on offer.
8. I came across a flea ridden stray some time ago. I gave it a bath, got the vet to check him out. Cost me a bit of dough, but Billy has been a good friend ever since.
Good luck to all, back to bed for me.
STL Price at posting:
18.0¢ Sentiment: None Disclosure: Held
