Forgive me .. i am dumb as a rock in this sector but have reason to believe it may be a good long term holding ... I know it was near BK last spring and diluted to raise $88M. Now they are looking to do another $100 after affecting a 1 for 20 split.
I'm also reading that they have a new CFO and have purchased a new vessel.
Is now the time to buy a lottery ticket on this thing if it goes to the $4.50 offer share price or are they just trying to run this thing aground (forgive the pun).
Thanks to any of you who can provide me with some guidance. The industry seems to be interesting to me given the new US production strategies that seem to be evolving.
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