RE: Does anyone care anymore?I think that buyers of PHC properties definitely have initiative on their side as the PHC cash situation has been dwindling and these guys are trying to figure out how to unload the GMC or bring in some financing.
My sentiments toward PHC have been steadily declining. Not that I am impatient when it comes to their deal making, but I am a little soured that I bought into this company at a great discount when they had a pile of cash (after a significant dilution) - they engaged in acquisitions and development, and then sold all of it off at quite a loss, and are now poking around for a buyout (after burning through most of that financing I should mention). I think there are some better business models elsewhere so I've reduced my position but I still hold some and am hoping for the best. Who knows maybe they can get something good going, but I have a feeling these guys would be inclined to take any decent offer and I'm afraid that they won't get a good deal on the GMC. It doesn't help that Dundee dropped coverage back in December which is why volumes dry up so quickly. That run in January is hard to explain