The 10-K is out, as expected. TBH, I don't feel like wasting my time reading it. it appears to be 99% boilerplate verbiage from prior releases. I haven't bothered to look at the financials because, really, who cares until the stock is trading again.There are a couple general references to the IPO effort, but no update or explanation or projections. Whoopee.
The only interesting tidbit I saw -- which I don't want to take out of context but will mention because it's the only interesting detail I came across in a two-minute skim -- is that, for at least one purpose, they are valuing themselves at $200 million. Again, this is out of context and doesn't mean anything. But if they should ever actually do the IPO, and the market values them in that ballpark, we will all be in pretty good shape. I'm not holding my breath. The more likely outcome is we'll get a quarterly in a few months that's equally vague. My sense is that the selling of the IPO to the institutional class is not going well. But who knows.
