I think we're all guessing here about the real reason behind everything. Very hard telling what's really going on. I didn't see anything about Garbino giving up his seat. I think if he leaves the board, then we might assume he's taking his business elsewhere. There's something missing here that doesn't make sense to me, only the parties involved know the actual truth. I do think they're better off dealing with both of these PPO's IF...
1) The payment comes in a NET30 type of regular business transaction as opposed to the "waiting until the worker's comp. claim is closed" type of environment. This enables them to get away from factoring and they will be instantly more profitable.
2) The amount of sales these PPO's can generate exceed the amount of business TPS was bringing in.
I would be very surprised that both of these conditions were not met. While I'm disappointed in management's "arm's reach" attitude towards shareholders, I don't think they're stupid.
THEN...If they do move forward with TPS, it's just bonus sales and they can afford to sit on the A/R that is problematic with TPS script.
I believe this is a positive situation. Much ado about nothing.
And while I have been one concerned about the A/S, I can't be disappointed by that number now being reduced. Still think this is a winner. Possible 8X from here, and I'd be happy.
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