spent a night reviewing third quarter financialsLike many acquisitive companies the the intangible and goodwillline items are hard to assess without further line item analysis of the underlying business's. I suspect writedown's are in the future (non cash impact). The real analysis should revolve around the cash generation ability of this company . paticularily in light of the 60m debt accumulated in the acquisition spree,
The other concern is the motivation of employees with way out of the money options . not to mention former owners holding paper that has lost virtually 80 percent of its value. Reading the tea leaves i believe the company need a change in the CEO role , vision is no longer the oerative skill , focus on execution and balance sheet is the needed skill.
Unfortunately it would seem obvious that the company needs to raise equity probably in the $15 million range.....in this environment it will be at a discount to current so probably a line in the sand at 15 cents...
post raise i will accumulate but have a cautious stance need to see cash generation