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Monday, March 09, 2009 10:58:25 PM
I was thinking the exact same thing as I read Gfp's post. I recall predicting a reverse split about a year or so ago prior to the RD gift, but here we are again. I know you always stated that Cor was sure to rebound as surely as they have done in the past. But even you, I am sure, did not see the tightening credit situation coming, at least at that time. I also stated about a year ago something along the lines of,"Why would the vultures pay a premium for one piece of meat when the whole cow will soon be available for free?". My rebuttals consisted of competition reasoning. Well it appears the competition cares very little who gets what compounds and for what indications. Selling the company seems the most logical at this point otherwise a reverse split to do a more favorable financing seems necessary, again sticking it to the shareholder. I don't see cor going out of business and I am sure the shelved shares remain at full alotment regardless of the split. There seems to be no real upside potential at this point. It's a shame the fine Dr's can't find a way to inject money into a company that they claim carries a potential $10 stock price. But I guess as long as their checks clear the bank, they remain eager little beavers.
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