Real Estate Bubble

[littlefish]

I don't think those guys r suckers. They know exactly what they're doing iIMO and want to keep playing with cash having very little if anything to lose.

They purchased something like 66 percent of li ve for a couple million dollars about 5 years ago and now got to take on a new biz as they blew thru all their cash (on the legacy biz)they raised thru a share offering. They then got to sell and leaseback those properties (like 8 of em) getting a new pile of money to play with, over $10 mill I think and cash levels r already back down to a few million even with increased profitability and some cash flow from assets line in balance sheet. Who knows where all that money went.

Notice too they didn't shut down their hugely money-wasting legacy biz right away and losses r increasing instead of decreasing as they wind down. Makes me wonder if they have friends or family working at the local office getting some of theirs before the cash dries up again. Probably a good pump and dump trade but eventually mostly worthless like the countless other garbage companies doing wrong to shareholders over time IMO.

Anyhow I have no skin in it so not gonna worry about it if others can scalp a gain out of it either way. :)

All IMO only.