Comment by thinkwithmeon Dec 20, 2018 1:38pm
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Post# 29141678
RE:RE:RE:Year End Review
RE:RE:RE:Year End ReviewAs a long time shareholder, I have continued to believe their business model was sound and that management could - and would - correct the myriad of missteps and begin to execute against the assets, strategy, and forecast.
At this point, I can be pragmatic and recognize that this is not - and will not - ever be the case. The fact that Harry has not stepped down at this point, nor has management felt compelled to issue a press release - material or not - speaks volumes. The ego and mismanagement have run deep and long and the music shall stop.
My average share price is still just north of $2 (yup, a big bag and certainly lessons to be had) after averaging down. I won't be buying another share. Now, or ever.
It is clear to me that, at very best case scenario, this is sold privately for a fraction of its value, not even some 12 months ago. Some will be quick to point out that Harry has presided over this very scenario before and that is, certainly, but just one of the very artifacts that me and other longs should have been attentive too, because alas history does have a way of repeating itself.
If such time comes that Nobilis does release their 3Q and then 4Q, I will look forward to having my popcorn from the peanut gallery for that MD&A call. Would we see some humility from the cast and crew? I still think its unlikely...
Sadly, I don't think that day ever comes. To all the bears, yes indeed, you were right, I'm not sure any follow on posts highlighting that are needed at this point.