Andy, that is not completely impossible. Unfortunately, this means more delays. It will not happen before next year if it does happen.
Now it is possible that since there wasn't a big enough run, not enough people had sold and Lumb and company couldn't grab enough shares to have less money to pay to common shareholders as a cash dividend.
So with this announcement, a lot of shareholders will have lost confidence in them and will feel they waited enough for nothing and will sell and only a few people will keep hoping and holding for the dividend if they ever give one. So it will not cost them much to either give a cash dividend themselves or to sell the claims to a big company and keep nearly all the profits.
They can then say they have done it, but very few people will be there to consider them heroes and thank them. Many others will have hard feelings for a very long time.
Have a nice day!
Posted by: andy8033 Member Level Date: Saturday, August 14, 2010 3:24:15 PM
In reply to: gallesco who wrote msg# 153584 Post # of 153596 Send a link via email Share on Facebook Tweet this post
what IF they are middle man and is selling it to a third party which may or may already be identified, and after they repay all preferred shares holders, they profit the rest?
Rule for posters: do not write about other posters or groups of posters (like bashers, pumpers, etc.) in your posts.
Rule for shareholders: do not expect that the company will meet the deadlines.
