Sun American Bancorp (fka SAMB)

[jedijazz]

it was posted on the 16th of February. I couldn't hold my shares any longer. It's really a lotto play, in 2006 the FDIC asked SAMB to raise Capital or sell, the share price went up, but the housing market and economy was differen then. With no Pr's on raising capital, everything is hush hush, yet it's posted they filed the 10k on 2/16, borrowing money from a company that helps businesses whent they need capital. I sold my shares today, I amy buy back in later, but if you have the money to hold, there is a chance the bank will rebound, as it did before, but the way projections are coming in for 2010 bank Closings, when the bank gets bought out the shares are worthless as far as I am told.