RE:CORRECTIONIf you were to buy another 50,000 shares at $0.17 your average price would be $0.245. Even the $0.245 price is still only 56% of book value. I would bet that you will soon be back to $0.32 and better. I for one am hopeful that this is the last skeleton in the closet. One or two big worries. First is a possible law suit, because the book keeping was so very (how shall I say this politely). Oh, I know; "Certain one-time adjustments and clerical misallocations were identified"
in the amount of $670,000.
in the amount of $670,000
in the amount of $670,000
in the amount of $670,000
And management and the directors won't even give a hint as to what these misallocations were. Here is a test. Let us say that the new directors misallocate Jim Tayors salary for several years. Do you think he would notice a little sooner? Well what do you think, is it worth a try? Basic accounting 101. You make big big mistakes like that and you don't get a pay cheque any more. Make big mistakes like that and you don't get any severance pay out either.
What is wrong with this board anyway? Doctor Luciani's investment has dropped from $0.355 per share to $0.17. Doesn't he realize that even he would be better off letting someone else take over his seat.
The Jerry Zucker Family Trust is an excellent name to be involved with. I will be so glad when they suggest some replacements for this tired bunch. I will be supporting their candidates not the present ones.
B&D