SGMA - WAGZ....management stop the bleeding! It reminds me of SMIT going into the ice cream business. Their stock is now going for about a penny a share! That boondoggle took down the whole company.
As far as SGMA goes, their main business has been doing well enough to not only offset the WAGZ losses, but to put up very good numbers. I get about 25 cents a share last quarter after adjusting for the one-time tax thing.
Tangible book value is over $10 a share. A lot of bad news is already reflected in the stock price which has been down nine days in a row. As far as violating the loan covenant, I don't think that's going to be a major issue.
I bought more today in after hours in the $2.70s. Anyone else interested down here?
I have seen lots of $1 stocks with strong earnings and solid balance sheets triple, quadruple and more, but I have yet to see one go below zero.
