It was me, and my infamous refrain to the pumpers was, "My advice is that you should continue to buy heavily until it gets to a dime, then average down from there."
The only difference today is that you should continue buying heavily until it gets to a penny, then average down from there.
It's headed to zero. The C-11 petition will not be granted and the company will be liquidated instead. The senior secured debt is $11+ million, then there's another $7 million in trade and other creditors, not to mention FKI who will file a $30-50 million claim as a place marker as the proceedings in Europe grind on, Mercury cable will continue to try to enforce their summary judgment on whoever is foolish enough to try to purchase the intellectual property and no customers would even think of buying anything until the company has survived at least a year under entirely new management.
Basically when the judge looks that all over, notes that this has been brought about by the exact same management team that took the company into bankruptcy six years ago in a maelstrom of litigation and broken business deals, he's going to decide that the only way to protect the creditors, the business community and the public investor from this menace in the future is to drive a stake through the heart of this public shell entity and deny it to those who have been exploiting it for their personal gain.
