Idle Media Inc (IDLM)

[wadirum1]

The way I look at this, I am now holding shares worth LESS THAN 3c. Why do I say LESS THAN 3c? The reason is that if I attempted to sell, the PPS would tank well below the current level.

You cannot be looking back at your cost basis. That is a sunk cost. You own shares that the market prices at 3c (or lower). So, now the question is whether they are going to go up or whether you should bail to buy something else.

I really do not think that Frasier will ever grow up. Something is wrong with the guy. And while he seems to care about what he has done to some shareholders, he detests the rest of us and feels no responsibility about fixing his part of this debacle.

Apart from the possibility of him accepting a buy-out, I would have cut my losses a long time ago. I don't think he will grow up, but he doesn't need to grow up to say yes to a deal that would either buy just his shares or the entire company. And a buy-out at 10c is a whole lot better than selling my shares at 2c. 10c versus 2c is a 400 percent return. So, I wait.