Here's a quick thought to consider...what was Players options?
They had Salinas, an amazing facility with outstanding revenue potential starring them in the face. They had/chose to act and acquire it knowing that the business was going to have to be audited and that it would take time. That time will likely will cause a downlisting back to the pink sheets (that is at least a reasonable expectation if Q is not filed by 15th which in my opinion it wont be). Or they pass up the Salinas deal altogether and keep their QB standing. Where are they better off long term?
The option they chose is best for the long term viability of the company and its shareholders. Longs must understand this. Re-gaining QB status will just take time and some reapplication fees once the Qs are current and reported.
The time it takes to do a thorough internal audit of a purchased non-profit cash operation and have it confirmed by an independent auditor takes time. But in the end we shine. In the short term we likely get nailed depending on the actual Q drop date. For investors looking to accumulate, this is actually good news.
For the company, in the short term, I am quite sure that the listing stop sign hurts big time. In there current trading situation, I am quite sure that it is difficult to secure financing and operationally I am sure things are tight in getting payroll paid and keeping operations moving. However, once this transition stress is behind them they are sure to be spot on in future quarterly filings and sure to rise in stock price at light speed as operationally everything is now set and moving. So they hunker down and weather the storm now and as investors we hunker down and support them and accumulate at lows where ever possible.
This is a tough time for all. Longs will stand by Players and the wise will see the end game and capitalize on share accumulation while the giveaway SP continues. It may not be pretty tomorrow but I am personally betting on Players rise in the next year or two where all will wish they had taken advantage of this transition period and accumulated as many shares as possible for their future.
I'M STANDING STRONG WITH PNTV & ready to weather all storms!
A strong buy at RSI 30's or below.
