RE: Some pointsGK
First of all, RS using URSA shareholder to "support" Pat has been a disaster for both Pat and URSA. the $1.85 million rights offering at .52/share is moving dangerously closer to being worth .20 per share. The most recent loan of $.5 million at 9% which can be converted to shares (and I think he'll do that if there is no money to pay URSA shareholders back) will be maybe 20 cents a share.
For this investment....I say to RS don't do anymore investing of my money on my behalf.
As for whether I'd buy back into Pat with new management? I'd like to but unlike RS, I think the wiser investment is to buy into RIC not Pat. Once RIC kicks the weaker sibling out of the nest, it'll be all over. Having said that, if the weaker sibling starts to fight back and take steps to not get kicked out of the nest, I'd have a good look at Pat. IMHO, the only defense RS has against RIC kicking him and the Pat shareholders out of the nest is URSA shareholder's money.
That has to stop.
Maybe new management would take a more hard line.