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Friday, December 21, 2012 11:21:09 PM
Chuck buys most of the junk outstanding in the hands of the lenders or infuses large amounts of his own capital directly to the firm. Either action has similar effect. Then, as a interested holder, he hangs onto that position for quite some time. Im sure this is much more cash than Chuck wants to sink in. Very telling that mgt doesn't really like the common stock.
Announces the above action and AS reduction. States junk financing is all but gone with plans to take immediate action on the small remaining portion. Announcing Conservative financing is coming right up. Than proceeds to start a real campaign with a respected PR group.
They (chairman and Chuck) let Rainer Go and gives a nicely worded news item that makes it clear the same actions will not be repeated and that places some blame (in a legally worded piece) at Poertners feet.
These happen within the next 2 weeks and the stock approaches .008 to .01 within a few days. The chances of that in the small timeframe are approx .001%.
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