Throwing good money after badIn my opinion, anyone who cannot participate in the rights offering is lucky. They are just tempting you to throw good money after bad. I will not invest one more cent in this loser. Nothing management has promised has come true. This process was supposed to be working in June 2023. Here we are 10 months later, and it still does not work. It has been delays after delays and excuses after excuses. Just look at all the "forward looking statements" that Pendura told to investors over the last 10 months. It was all a pile of manure. Either this process is a failure, or the people trying to implement it are incompetent. Either way, it has meant a total loss for investors.
Just to cover the positive scenario, maybe there is some small chance that they can make this work. They are not bankrupt yet, so there is still a sliver of hope. I give this a very low probability at this point.