XDC jumps at $3.4 after the offering at $1.15 in Sep 2012 XDC (Xtreme) is in the same sector. XDC was in worse situation than TID back in September 2012 when its stock was at $1.20
XDC made a 20% dilution in Sep 2012, issued 13 million shares at $1.15, increased its cash resources needed to deploy its rigs (CapEx), and the stock has TRIPLED since then. Check out its September 2012 news to confirm it. The stock is at $3.4 today.
I am saying this because even if TID issues 80 million shares (20% dilution) at the current price to receive ~$10 million, this is not the end of the world. Both CEO and CFO has emphasized the fact of the upcoming improvement both in Q3 and SUBSTANTIALLY in Q4.
Moreover, XDC had less quarterly (Q2) revenue than TID ($53 million versus $72 million) and EBITDA at $16.8 million which is slightly higher than TID's EBITDA at $14.1 million.
XDC trades at pbv=0.8 (!) while TID trades at pbv= 0.17 !!!!!
THIS IS A CRAZY CHASMA.