GREY:ABCXF - Post by User
Post by
bendergardenon Aug 26, 2011 5:00pm
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Post# 18984454
50% below book value??
50% below book value??It would appear there is Chinese small cap suspicion hanging over the company. Questions about where cash is disappearing to, perhaps.
My average on this reeking piece of goo is .52, and even that looks like crap at the moment.
If their books are clear, then this probably warrants a price of about $.80 to $1.00 or so at the moment, but they are in the wrong place at the wrong time.
Biggest issue I think: way too many surprises popping up at earnings time. Very questionable practice. There were a pile of things in the report that investors should already have known. And they are clearly planning to issue more shares, absolutely no question about it. Now they have shanked themselves, trashed their own share price, and the offering will be a truly unfortunate farce.
Idjits.