That's all I've really been saying w1104.
The numbers don't add up. That guy agrees with me but doesn't have the patience I do.
The sideshow aside, LUK's chunk of the equity of this company is simply too large, and combined with the convertible debt load, it does not leave much on the bone for shareholders.
The market has only been partly right on this so far. Sure, it's down 90%, but still trading at least double it's book value.
This stock in particular has been a bit detached from reality because it became a favorite of the OTC/Twitter/ihub/yahoo crowd for some reason.
They promote it as "not an OTC stock" LOL but fail to mention that NYSE stocks can get hit, just the same, and this one did.
And, of course, loan repayment does absolutely nothing to change the fundamentals here.
Besides potentially saving a few million in interest in the future, but that really is beside the point and unworthy of mention compared to the real issue here.
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