I still believe they will announce the loan. Your guess is as good as mine as to when, though I expect sooner than later. I am just as unhappy as every other shareholder with the destruction in share price dilution has caused. It is a fact, however, that the company has made very significant progress towards finally fixing this problem.
This is not my first rodeo and not the first time a stock has become severely undervalued because of fear and forced selling (or dilution in our case which is a form of forced selling). Usually it is margin call selling, in this case it is dilution or forced collateral share selling. What matters most to me are the fundamentals of the business and that the business is sound. Besides TRW's great growth potential, CA has recently made new potential consulting projects in Myanmar and Africa, which is in addition to the ones in Vietnam and Africa that had been slowed down.
By the way when all hope was lost with Pier 1 in march of 2009 it hit .09 cents only to go up over 21x in less than two months reaching $1.91 and up over 88x touching $8.08 just over a year later.
The problem with this stock price has always been due to a financing one (though others like emptyone have argued it is a management problem and he may be right since Solomon should really just be in charge of operations not financing decisions that led to this). But in my opinion when it is fixed, there will be a very large reaction in the price. And all evidence points to it being fixed very shortly with both smaller conventional loans and the bank syndicate loan. I am no fan of the share price and dilution as anyone else but there are people who agree with my long term view as well since there were some other serious buyers today. When the loans are taken care of, the price will take care of itself.
