I also agree that even given the worst case scenario these pps straddling .06 are unreal. Every investor has their own situation and objectives so I don't want to say that it is ignorant because someone may just be tight on cash and need that money. But in all reality if they are just selling to sell the stock then it is a very ignorant move at those prices. I have been loading up as many as possible. I have a strong feeling that we won't be seeing too many more shares crossing the table at those low levels anymore though (unfortunate for buyers). And if they do, they won't be staying out there long.
Someone that is educated on the company and their current situation would be ignorant to ignore shares sitting out their at this value. Those low volume trades (opinions of few) value the company at less than 1/4 x sales and less than 1 x yearly net income. LESS THAN 1X NET INCOME. I realize their are strenuous circumstances on the company currently but not outcome from the current litigation can justify those levels at all. And we have clearly seen that the convertible debt holders (ALSO CURRENT 20% EQUITY HOLDERS) are 100% backing CDOC throughout this situation and willing to extend debt terms with negligible effects to CDOC. Their interests are highly correlated to all of us shareholders. By extending the debt without any stipulations or high fees, that also shows the confidence the debt holders have in CDOC winning this lawsuit. And the debt holders knowledge of the situation is far superior to that of any of us in the public. If they truly thought CDOC would lose this, they would be proposing very different terms and/or fees.
Bottom line is that these levels are great investment opportunities if they lose that lawsuit. If/When they win though.. this will easily be at 2.5x current prices. When they renegotiate the debt and get that situation resolved for the long term, this will take off. It will almost be comical to look back on these valuations. I know I will be wishing I bought up more.
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