So, their financials came out yesterday...
To be honest, I expected a bigger reaction to them beyond the lackluster volume and pricing action we saw today.
$98 million in revs this quarter couldn't cover their expenses by $30 million.
NOT GOOD!
Interest payments per month are $42 million...add $10 million in losses per month if these MRQ losses continue and that means SOGC will need $156 million in Revs just to break even.
If they can't break even, they'll be dipping into the piggy bank ($280 million in cash), or they'll be diluting shareholders, or they'll file BK.
My last buy has me barely in a profit and I think I'll be taking my toys a and going home tomorrow.
I wasn't necessarily hoping, blindly, for a better Quarter, but what I was hoping for was a better sense of what the broader market thought of SOGC's potential with action on the stock today.
Since I didn't see any more clear guidance from the market regarding sentiment, it's safe to assume nobody is watching.
If I sell, just wanted to say thanks to those who've contributed relevant info regarding this stock. I have had some great trades here, and part of that is from some information fellow traders have offered.
