There is always money to be made, IMO this one is far off. Too many variables and risk vs reward levels are different for everyone. If your willing to get stuck holding for months on end, this could be your play but with a resigned CEO who can dump all shares in 90 days, chances are it's going nowhere. Plus you have to account for, how much money the old CEO lent the company because now he can leverage his voting shares for repayment or issuance of new common stock.
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