RE:RE:RE:The proposition of going private "I understand it is good to cautious, but what your indicating is that you shouldn't get a mortgage cause the bank owns the deed."
Using your analogy Joe, you bought the house outright with cash because Poydras started off funded with shareholder money. Now if you keep on losing money and have to take out a 1st, 2nd, 3rd etc mortgage to suppliment the shortfall, then you have a problem. The bank eventually owns all the equity in the house and will no longer loan you money. As you continue to lose more money how long do you think the bank will wait for you to get you finances in order before they move to protect their interest?
You can not keep this up forever. That is why I said earlier on that this company had better find a way to make money soon or else the shareholders are finished no different than the bank foreclosing on your house.
All your tangible equity is now owed the the creditor. Where do you go from here? How much more can you draw down if that money has no tangible equity to secure against it?
I do not know exactly what the game plan is but the game Poydras is presently playing most definitely has a time limit. If you are going to hang in there as an investor instead of a trader then Peter had better break his allergy to the "p" word or else it becomes a "when" game, not "If"
But good luck and I do mean that. I get absolutely no pleasure from seeing people lose money. In fact Joe since I created this handle I have dedicated most of the postings I make to sharing my knowledge in an effort to keep people from doing that...but as they say "You can lead a horse to water...."