The Bank Recovery Room

[Lazarus]

So, I just noticed today that they filed their report last week.

What's your take? Looks like they lost a shit-ton of money doing their startup in debt collection and whatever the hell else they got their fingers in. Add to that it looks like wages and salaries are obscene.

That said, they are still trading below book value -- but if they continue to bleed book value will drop as well.

I wish I knew a third party that was familiar with the management that could give me an objective report on their character, past achievements (or lack thereof).

It appears they did pull MNBC up from nearly dead... but other than that I'm not sure. Shareholder letter and/or guidance of some sort would not hurt... looks like they gave out the bare minimum to pacify shareholders.

Also, I wonder if they plan to report regularly or just on an annual basis.