I agree! I like this company and its products(i own some of them too), which is why I started this message board here. I have owned the stock several times but have been scared to hold it for the longer term because of the apparent ulterior motives on the part of the board of directors which is led by the company's debtholders.
I picked up some ONEI into the close at .323 and .336 and some for my mom at .333-.35. I spoke with Paul Davner this morning. He's the Managing General Partner of Jordan Capital, which owns a decent size block of ONEI stock and put out a PR towards the end of December. ONEI is majority owned by the banks which hold their debt, thus a big conflict of interest. I hope he doesn't mind me sharing this i don't think he will. He said the company isn't listening to offers to sell some of their weaker divisions to pay down debt, other offers from potential investors and possible purchasers of the company so he said they are looking into a possible class action lawsuit against the banks by the minority shareholders and if ONEI goes BK, he wants to set up an equity committee for the minority shareholders. ONEI's banks appear to be trying to screw the small shareholders but at least he's putting up a fight which was all that i was hoping to hear so I decided to start buying more of it, and i will continue to do so should it drop further. I would hope that the banks can come up with a solution outside of bankruptcy court so as to not ruin this great company.
If you need to get ahold of me, shoot me an email as I'm no longer a paying member.
