That's the big question on SGMA. Why the heck did they acquire Wagz. Answer seems to have something to do with the close relationship they've had with Wagz for years. Management must be buddies, maybe some members of management are related? That's the only thing I can think of. Because major dilution to buy an unprofitable company with minimal revenues never made any sense. Wagz was probably going under and SGMA saved them. Saved them with a sweetheart deal too. Why I don't know. Should have just taken the writeoff. Or at the very least bought Wagz with a few million in CASH, not diluted 30%+ with cheap SGMA shares. Worst part is the SGMA main business was doing so well. Stock would be at least $15 right now imo without this Wagz disaster. Shareholders who voted for the Wagz deal voted for a much lower stock price. It's mind boggling.
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