DXI Capital Corp. (DXIEF)

[mongoose64801]

Started nibbling in 2012. Averaged down several times based on the story and the properties. Went heavy when management was buying in 2014 and it looked like the joint venture was going to get 8 wells done and carry DXE.

Turns out Bob did not have DXE carried for all the costs. They came up millions short. Things went down hill from there. Bob loans money, takes options for 1/3 of the company, dilution on top of dilution as shares crash. We all know the story. My loss is huge.

All shareholders know by now Bob is completely incompetent. He bleeds the company at shareholder expense. There is almost nothing left to bleed.

I still like their properties, but at current prices this company is NOT sustainable. This could be a complete loss.