Wet Seal Inc.(fka WTSLQ)

[RizK]

Wtsl closed 2/3 of stores (overhead reductions by 2/3 for company). Remaining stores are 52% of sales. Internet business has increased quarter to quarter and become a focus.

Wtsl defaulted on a payment and received a forbearance to pay off loan on 1/12/15.

1/12 has come and gone and no BK filing. This is a good sign.

The corporate site updated internal job postings yesterday and the Twitter account posted for the first time since 1/3/15. On top of this they brought back a successful CFO who has handled this before and gave the CFO a raise (not bonus, a raise). Raise only pays off over time. Another good sign is the volume of shares the CEO owns.

Just my opinion. I see no BK, but rather posturing to close leases and restructure the balance sheet.

IMO company will be profitable by Q3