Delta Financial (DFC)

[Duffau]

You guessed wrong on both counts as did many.

NFI looks great and this is now trading at 13 cents. BK filing due out any time now. Mgmt has given up so I don't even see the need for CH11. This is clasic CH7. Dispose of the assets and discharge all the debts. Common shares may trade under a new symbol but they have death written all over them and will quickly go to zero.

I like a bankruptcy play, but I want management to be screaming for a long shot chance to pull this out. I don't see one here.

Check TOUS for what you want to see in a company facing bankruptcy. Trading at 19 cents and could go to $4.

Take your loss here like a man and move on.