RE:Quality of Reliq's OfferingActually there is a probability that Cognizant did not do full DD and only partial. Also the financing folks who took on the paper at 40 cents did not do or where not given full info to make a correct decission as well.
You would be surprised at the more money people have the less DD they do with a good focused chat of a promising business model peddle by a very good salesperson.
As previously stated you need to realize people are here because you had a CEO who basically thinks all of us a not worthy of her knowledge or what is really going on inside the company. A culture of you actually can't do any DD unless I tell you what it is. From her all the way to Scott in IR. It will not stop you as you have nothing to stand on with a high probability that when financials are released you probably will not have much to stand on. The thesis that grinds at you is actually correct and your ilk just slips away into the night.
And if you want my guess is it will open around 10 cents if the thesis holds true.