RE:RE:RE:RE:RE:RE:Watch Out BelowWell Ingi,
1. Buy-back on the books forever and is never executed, even when sp reaches record lows relative to NAV. They keep sp depressed.
2. Company can put a rollback on the table at any time to reduce volatility and send a strong signal to market that they want to grow up. Instead, they leave their shares susceptible to irrational swings in while holding off institutional investors who would be more inclined to force management to manage.
3. Only management team I am aware of that actively cultivates a reputation for missed deadlines.
4. Could have used share capital to acquire SRN outright and still maintain a healthy balance sheet, instead they further dilute the stock, dragging down Surco's value-add while holding a massive war chest.
5. While remaining deliberately underleveraged and undervalued, company maintains a cash balance that was, until recently, equivalent to total market cap. The business equivalent of running through the lion's cage wearing a meat suit.
In short, this is not an aggressive management team that wants to stabilize and grow. This is a management team with one foot out the door that wishes to depress share price long enough to literally dump our shares onto a suitor. The market is not wrong on these guys. I'm still up 18% but that's about 1/4 of my 6 year average. More annoyed at myself really. Should have beat a hasty retreat at $0.44, took the 35% bump and ran like the wind.