Now Bandera has his $3M on the line too. Now it's his money on the line, and he is very vocal. He and Pappas do have a history, and Bandera does push back with their money to their mouth.
I think it feels better with his money on the table.
They also had this comment in the 10K:
"we expect to benefit from the significant organic and M&A opportunities we are pursuing that can leverage..."
How do you feel about that statement? I'm not aware of what they are pursuing; but apparently, they are pursuing some sort of merger and/or acqusition activity. Possible that it could even be the sale of the company? James Pappas, after all, is known to have sold the JMBA juice chain, which rewarded patient investors handsomely in the end.
It is a dirt cheap company. Very low p/s. Sam should have been fired long ago, I do agree. Don't know how he keeps his job. That does seem a bit unethical. I can't justify it. Perhaps new owners would not be so forgiving. Then again, wouldn't be our problem either...
VOLUNTARY DISCLOSURE: 50,025 shares here at a .316 avg. cost per share.
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