RE:RE:RE:And the beatdown goes onWould I buy the debentures now at 95 cents on the dollar? Heck no.
Am I happy picking up an 8% effective yield until they mature, with a 18% capital gain - assuming redemption at parity in 2 years time? Absolutely!
Fine capital must be dozing!
Alphaseeker1973 wrote: The only reason to own the debentures is if one believes the stock will trade significantly above the conversion price by next year. This will never happen. The CEO just does not understand how to create value and the share price will only get above $3 again on a takeover bid. If no takeover happens this is dead money for another decade or more. Terrible management team and a majority shareholder that is sleeping at the wheel (Fine Capital). It is no wonder the guy from EastBay Capital resigned from the BOD. Probably got tied of Fine Capital's unrelenting support for this failed CEO.