That's all you can do.
In all honesty... It is taking a great deal of self control to not buy this right now.
The thing is this... I've seen other companies in this industry SOAR on news of exiting BK.
I've seen companies exit BK and keep shareholders intact and you know what happens?
As soon as they exit BK they get a ton of upgrades because now all of the sudden their balance sheet is cleaned up and the stock SOARS.
What I've seen is indicators. You know... The usual volume spikes, slow and steady share price accretion... And then BOOM! The stock takes off.
Usually, the stock soars...hundreds of percents... Then it finally falls off and the reality of the energy market sets in and the stock falls to new, post BK lows.
Here's the problem with SOGC.
There has been none of that.
There's been no buying. The volume stinks. The share price is sinking towards new lows...and there is a general disinterest.
Why?
Because management isn't doing anything transparently. Nobody knows if the stock will remain intact (I highly doubt it will) and so no one... I mean NO ONE is willing to buy.
You see... It's simple... SOGC has issued a BK exit strategy that literally says debt holders will receive 93% equity in the company.
SOGC, being an equity based, publicly traded company, should see those debt holders buying up their stock IF THEY KNEW that the stock was going to remain intact after the BK exit.
Since we aren't seeing any buying... It stands to reason that they actually know the exact opposite: the stock will be cancelled and new shares will be issued. Hence, why buy this stock that will be worthless when you automatically get your share of 93% of the equity in newly minted shares.
So here's the F U :
SOGC SHOULD AT LEAST let current shareholders know. It's BS that they're keeping moms and pops who pinned their retirement on investing in SOGC in the dark.
Bleh...
Oh well...
