Lights out?
I hate to say this, but I think it is all over for AMZG. Even if the price of oil recovers this quarter (which I do not expect), I think AMZG has lost too much money for the common shares to survive what is about to come.
Last year I lost about 40% in the trade I had, as the stock went from over $8/share, down towards $4/share, and this was prior to the drop in oil prices in the fall. At the time, it hurt to sell but if I had held on, the loss would have been over 90% on the trade.
I wish the company had grown from internally generate earnings instead of constantly issuing shares and borrowing. The company would be a lot smaller but it would have built up retained earnings and been able to survive this drop in oil prices.
Louis J. Desy Jr.
