The lack of communication from management after doing a 1 for 15 RS and having the stock price plummet is disconcerting. Especially considering conversions are all priced at $.45/share or higher. It's completely scummy. There is no magic motivation to reward longs or anything ridiculous like that. Management is failing on this post-RS communication.
On another note, Managers/Lenders couldn't have anticipated this market reaction which to me agrees with my opinion this is an unjustified pps move downward and will rebound .You don't lend $13 million with a $.75/share conversion price if you think the market price is going to drop below $.3 or $.75 for that matter...and you don't accept ~$.45/share or $.75/share options as compensation or incentive.
I suspect this is more shorting than it is converted shares being sold. No doubt conversions have taken place and our OS is greater than 40 million. But this price move- It's artificial. I'm just afraid the artificial pps move may hurt their ability to raise debt in the future and survive/thrive.
I don't expect Q1 to be any kind of redemption. I would expect Q3 or Q4 to start showing improvement assuming Walgreens doesn't kick them out for being in such poor financial condition. Remember, for FIN, Wal-Mart isn't much more than name power. Less than 10% of their retail sales come from Wal-Mart. The majority are from Walgreens.
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