PharmChem Laboratories Inc (PCHM)

[cheddartart]

Y, to be fair I think that's the board's decision on the dutch tenders. Not a fan of debt either but my guess is they thought the cash flows were going to be steady into the future.

I didn't like the buy backs and would've preferred dividends too mostly because the stock at both times didn't seem that undervalued.

The growth would've come from the new sales efforts that at best seem slow to ramp up but to be fair these are long sales cycles.

Hope they calm the hell down with the fancy financial engineering too.

Full disclosure: My position is considerably smaller than before and reflects how I think there's way more uncertainty with where this ends up than before.