Post by
traderguy5000 on Jun 11, 2015 2:45pm
Just bought @ $0.07
Just added to position at 7 cents. I know that catching a falling knife is not intelligent investing, but I couldn't resist. I found it constructive to reread the earnings release. The financials are dreadful, but I believe Klerer is a far better man than Ryu. Investing at this point, is basically having faith that Klerer can handle the difficult job he's been given. Over the last two years, I have felt that Ryu's actions were indicitave of some kind of instability. The focus changed from ESL, to foreign agencies, to franchising, to student housing. Then the equity raise we had just previously been told was unnecessay. Unfortunately, I ignored all the red flags along the way. It is now clear there were many problems with Rhu. If Klerer can simply concentrate on refinancing and cost control of the ESL schools, this company can be saved.
Comment by
Infirstmoney on Jun 11, 2015 2:48pm
Agree 100% A turnaround guy can pick at a lot of low hanging fruit and easily get the company fixed so it is at least breaking even with a good cash flow.
Comment by
60606060 on Jun 11, 2015 3:17pm
Just take Head Office wages back to 2013 level and get cheaper office space -not Bay St. and we're profitable again. Then cut the other waste. Then find out where Chornoboy and the directors went wrong from profit of 7 million in Q3 to a loss in Q4. DID MONEY GO TO FRIENDS IN KOREA AND LOST IN SPECIAL ACCOUNTS OFF SHORE or just plain WHAT HAPPENED???????
Comment by
Infirstmoney on Jun 11, 2015 3:23pm
Right on! Plenty of schools and housing to turn profit. They even own agencies for crying out loud. Cut management salaries and staff. Cut out executive salaries and stuff. Cut out any spending not related to IT or growing the number of students in the schools or in the housing.