Hey California, welcome to the board! Glad to have ya.
My trash talk isnt with a vindictive mindset. Its with a realistic scope of just what is exactly in front of this company moving forward. You say the past is the past, and to just let it be, but its not that simple. Much damage has been done to their credibility, credit worthiness, and loss of market share that in my estimates, is just too much to overcome at this point in the game.
When you have no options left to play, you get stuck in financing deals that are under horrific terms. These equity deals that WEST is taking are equivalent to giving a person who has a court ordered lien on his home, a repossessed car, 100K in credit card debt, and a minimum wage job a credit card at 30% interest rate. Its financial suicide! For a business with negative cash flow, insurmountable losses, and debt that cant be repayed, its a dead end. (And contrary to Mad saying that the reason Suntech doesnt call in on that debt is that the stock is just too valuable, lol, is far from the truth. A more realistic guess is that Suntech figures that if they call in the debt, surely it will BK the company, and they get nothing, as opposed to waiting to see if they can somehow be profitable in a couple of years, they might recoup that 900K.)
Southridge is here to make money, thats it. Everytime they buy WEST stock that they are contracted to buy, I could all but guarantee that any movement upwards in stock price, and they are selling like mad. I'll bet they made a hefty profit on that Fridays run to .023, knowing good and well they would have to buy more when it dropped back down because it wasnt going to be long before WEST needed more money. Wash, rinse repeat. Southridge is NOT getting stuck holding the bag on 85 Million shares. Problem for small retail investors like people here, is that Southridge is doing it in million share blocks, which inhibits any momentum from holding on. You just cant keep gains when someone is diluting the market with millions of shares. Most investors of pennies dont have this vision of grandeur that this is the next big thing. This is a company in turmoil, hence the 69% short rate. They smell blood in the water, all they want is to get a bite before it dies. When you have too many sharks nibbling on the carcus, its just a matter of time...
While I applaud Chan and crew for pressing forward, I cant share the same vision that people here have. The odds are too great of failure. Unfortunately, too many investors think like me, and arent expecting for that hail mary to find the receiver in the endzone. When you have that much downward pressure from SO much money, its suffocating any air being breathed into the company.
AI
