GREY:ICPBQ - Post by User
Comment by
undervalueon Oct 30, 2022 11:30am
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Post# 35058491
RE:Pender changes at board level.
RE:Pender changes at board level.Pender drove this into the wall.
Selling the whole co, for 100k. This was a huge loss of equity in a very short time span.
Effectively zero. They had plenty of equity last q. There was no point doing creditor protection, they didn't owe anyone.
Rather than be on a board that had do radical things to protect remaining cap, they handed the keys over for free.
The only positive was I didn't bother to average down.
The Cfo did not return my calls. So, I was spared the final embarrassment.
They kept selling with a bloated cost structure, could not achieve margins. I saw it, but my patience and faith in Pender was an error.
Ouch.