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Wednesday, June 25, 2008 8:38:52 AM
I also think that the rumors about BAE flight systems is a reach. The price of the failed Calspan deal was just coincidence as was the timing of that deal falling through and PVD being in London.
I sold quite a bit yesterday and bought a lot of it back. That's part of the deal with these things. I'm still holding and still own an integer percentage of the stock. IAHL has possibilities but even through their best efforts things might not work out.
I'm still feeling very disappointed about the fact that we haven't heard from IAHL and we got the Thrush information in a round about way. In re-reading the Thrush release, it's not 100% clear that the deal is dead. Thrush doesn't want the deal anymore. But, not knowing the contract, there is always an outside chance that Thrush doesn't have a choice or will incur a penalty to withdraw from the deal. Normally, there is some sort of penalty to compensate the other party for their time and expenses when a deal is canceled.
As much as I like the idea of keeping dealings quiet to avoid problems (like people pestering parties over the phone) I think that there really does need to be some sort of release from IAHL addressing the Thrush deal and hinting at what they are aiming for moving forward. The June 18th release about "deals" is simply too vague at this point given the developments of the last couple days.
It's possible that IAHL is also lost and adrift at this point. They might have had a lot of eggs in the Thrush basket and keeping the eye on that ball to the exclusion of other opportunities.
It would be really nice to know what the next goal in this process is.
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