I think we need to understand better perhaps why they wanted to go public in the first place. Did they completely understand what would happen after they went public? Are they restricted from selling their shares? If so then for how long? To me all evidence points to a very small group of people who have built a very successful business over the last 10 years or so. We know the owners are about 60 years old. I suspect they want to lighten their ownership in the company. If they tried to sell a minority stake as a private company there would be a huge discount in the selling price. So why not go public and then it should be easier to sell some of their stake without diluting the price. Now the have to have an audit. Hmmm, that's taking some time so I'm guessing they didn't already have audited statements which in turn tells me they probably have little or no debt. This is good IMO. They're probably restricted from selling, what 6 months? 12 months? Anyone with a feel for how long? So, let's say they're restricted for a year. Granted, I'm making several assumptions here but if they went public to sell some insider stock and they're restricted for a year what's the rush in their minds to issue a press release? Their all day meeting might just have been to discuss what type and when they're REQUIRED to release info.
Bottom line here is that I think we have a nice gain ahead of us. When, I don't know.
