I disagree that new money is not interested - I think investors are simply waiting on the sideline for the 10Q. Unfortunately, management has given good reason to sit aside and wait. This 8-k was basically a cut and paste from the PR - there is no reason it should have taken a full week.
Those of you who have suggested a confidence issue have hit the nail on the head. Management has shown promise by building a huge asset base in virtually 18 months. They have shown that they can pay a dividend. However, the CEO's bio does not exactly portray the background of a real estate guru. His background is in corporate restructuring, which requires savvy but is not sufficient to build a real estate empire. Clearly he is receiving counsel and direction behind the scenes (TMG, other private investors?)...unfortunately we can't know this because they haven't told us. Further, if any of you have spoken to Tim Garlin and pushed him for answers, there is clearly a lack of full communication between him and Pawson.
Ultimately, CBAYe's ability to manage a public entity needs to catch up with their proven ability to grow assets. The PPS will jump when the 10q and 10k come out - I wouldn't jump to conclusions that new money is not interested...but don't expect the earth to move when management takes a week to file a one-paragraph 8-k.
Eyes on the prize: 10Q --> 10k --> $15 million mortgage note settlement --> NASDAQ listing. I hope you day traders here have the patience to see this at $3 by next Christmas.
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