RE: Re Lars HoieGranted Hoie is fallible. Like us, he may have made a bet and crossed his fingers. He may be licking his financial wounds as a result. At $20 million plus, it’s a fairly deep cut.
Unlike us, he has access to technical resources to assist him in evaluating MPH’s residual value. He may also be in a position to throw MPH a lifeline. He will no doubt take the time needed for a sober second look, but at least, like us, he has a vested interest in having MPH survive.
In the meantime, MPH’s management has to drastically cut costs and look for financing in a very hostile credit environment. Not saying Hoie will necessarily be MPH’s white knight. Just suggesting that since he has not reported any sales on SEDI, his continued involvement should be classified as a small positive and these days, positives are hard to find.
Perhaps the company comes up with a few more positives in April and shareholders begin to see a glimmer of hope. Either way, it’s going to take time to recover from this torpedo to MPH’s engine room.