OT: mystiq...VOIG...shells in general.....
"Any news on VOIG? Down quite a bit since you took a 9% holding in it. I did it too but losing at this time. Are you still in it?"
I only purchased about 5% of the VOIG shell (575K at .0167/shr cost basis). Continue to hold all my shares, with an expectation that I will eventually get about 10-30 cents per share on that position.
Generally speaking, whenever I buy shares in a shell I basically assume that at some point I will probably have a paper loss of at least 50-75%. Adopting that philosophy (accepting the inherent volatility of shells) makes investing in shell situations a whole lot easier to stomach.
I don't have any updated info on VOIG, but remain quite optimistic on the potential for the stock based on the info that has been disclosed in filings this year: a new CEO with a background in Indonesia energy, prospective geothermal acquisition targets have been identified, the number of preferred shares available for financing/acquisition has been increased which suggests to me that VOIG is pretty serious about making some kind of significant acquisition/alliance.
As a shell investor about all I can do is try to identify shells/situations that look potentially intriguing from an overall fundamental or speculative perspective, place some money at risk and see how things develop.
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