GREY:SAYFF - Post by User
Comment by
DiamondBoy1on Jan 11, 2020 10:36am
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Post# 30541979
RE:Wash trade?
RE:Wash trade?I was implying that something was fishy. The investment was over 17 million in late October 2018, but the transaction fee was 1 million. Either way their 20 million shares cost 16 or $17 million and the company has over 150,000 shares on the street. It is very strange that the people who funded this company would except such a small position. Catastrophically poor judgement seems unlikely - 16 million has a way of making people focused and serious. Strange.
As an operating company they still have hope, it could work at low margins and minimal profit and just kind of limp along. In the first 3 quarters of this year they lost 10 million, maybe they can break even in Q4 and then build from there. They have 4 million of working capital, so some room to manoeuvre.