SWVC's "legacy/Cornell debt is" tiny,,,
compared to the 4 brand new toxic CD loans,
that the CEO just signed into,
from an even more toxic loan arranger.
And, it looks like he plans to use the new cash
to buy some more always-money-losing private 'companies'.
I wonder if any of the purchase money for the newest deals
goes directly to the guy who collected on the last deal.
The SWVC longs really should check into the 'motivation'
behind the grand borrowing + acquisition plans
of whoever is making all of these decisions,
using brand new SWVC shareholder cash.
And, how come they never get to vote against these rather
important, company-shattering, toxic 'deals' .
Maybe it has something to do with the "Preferreds" ,
which are all owned by only1 guy, who was the only1
who voted for them, and 'approved' them. And now, any day he
chooses, he can own 80% of all SWVC floating shares.
Very creative, but not too nice, and totally unnecessary,
if the real 'plan' was/is to increase Outsider shareholder
value. Not too likely, when the only1 Insider decides
everything, with only1 vote. And, can dilute the common
float by 5-to-1, overnight, with only1 vote. And then,
own 80% of all floating shares. And then, vote again,
to 'award' more toxic "Preferreds" to the same only1 guy,
or his wife, or anyone else who plays 'lets make a deal'.
So far, the 'plan' is working, as long as longs keep
buying + holding + buying more of the newest SWVC shares.
And, how did the CEO, and his lawyers, all miss that old
toxic 'hidden' debt. And then admit to their 'oversight' ,
after signing into 4 more new toxies, all bigger than the
old 'oversighter' .
SWVC is very interesting, and educational, and creative,
and teaming with bait for shorters.
Averaging-down is profitable, for shorters, only.
