RE:RE:I'm Concerned About The Intentions Of Management?Or the other way around, sell or wind down the loan division and then distribute a special dividend to shareholders. This is much easier as the LOI for the billing division is not a outright cash deal. It is $1.5M and plus an earn-out up to $10M which could take years to accomplish. That is perhaps why Brann dropped this one.
According to your theory, since RBP was sold to a bunch of insiders in shares, including Brann. He would be fully incentived to distribute a special dividend again like he did last time at 7.5 cents once the loan division is sold or wind down. At this depressed price level as of now, such distribution will help the share price at least recover close to net book value.
Keep in mind, the liquidity of the stock is very low. It took only 1M volumn trading to bring the price down from 25 cents to 19 cents. Conversely, It will also only take 1M volumn for the price to recover from 17 cents to 23 cents. Be prepare to take off anytime once the news is out.
Who are picking up those cheap shares? I am one of them. I bought some at 17 cents. I will continue to buy should it drop to 15 cents. With breakeven operating result, no debt, 37.4 cents net cash position, how lower this one could go?