RE:Totally AgreeHi FLG and others,
I am in complete agreement with those concerned about this transaction.
Trying to make sense of the share price is impossible in the current environment. It is good news they have sold The Spectator building for $25.5 million. However, I fear it is simply handing more gasoline to drunken pyromaniacs with dynamite in their back pockets and lit tiki torches balanced on their noses in a nuclear power plant. Nothing good comes when this gang gets more runway to flush good money after bad and that’s been their consistent track record.
Yes, continuing the garage sale of assets buys more time but the time does come when the garage is empty of anything of any value. The stock will get a temporary and illusory bump from this asset sale news, however, investors will still have to deal with the reality that Honderich and his cabal of incompetents will careen from one bad decision to another.
It is only when they are finally shown the door will the share price reflect the actual value of the company.
MW