Delay and stock activityThere are a number of potential causal issues surrounding the delay in reporting: 1/ the auditors may have identified a material problem or opportunity; 2/ resignations may be in the works; 3/ there may be news on the Glendale front; 4/ legal issues may be coming to the forefront; 5/ the business may be in the process of being sold or going private. Regardless, the stock price is either suggesting that the news is not good or investors are pannicking. The large blocks (i.e. McKenzie/Howson) are trapped so it must be RIs or small institutions dumping. It would be great to know who is on the buying end. It certainly cannot be insiders because they would be conflicted vs the delay announcement. I actually thought that this was going to get privatized as it is too small to be public. It's been dead money (got the TSX technology/small cap blues) during a time when the US comps have really rocketed. I feel sorry for Mr. Bourne I think.
Does anyone know how their business is performing? I've heard through the grapevine that the US ops have been in the crapper and Toronto must be getting hammered on the USD.