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I advise caution here. With nearly 300

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Lazarus Member Level  Wednesday, 08/30/17 03:50:40 PM
Re: illegal_alias post# 145
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I advise caution here. With nearly 300 million shares OS and a book value of ~ .045 and paltry earnings this stock does not look attractive.

I had a penny bank that was recovering well and it received a buyout offer. The problem was the buyout offer was LOWER than the price the stock was trading at. I call the bank president to find out WTF was going on and he said the offer was fair because the price represented the BV of the bank.

Insiders / bank execs - owned the majority of shares and they I'm sure the buyout was lucrative for them since they approved it.

HOWEVER -- that was a lesson learned for me because in all my years of trading it was the first time a company was bought out for LESS THAN THE TRADING PRICE OF THE STOCK.

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