I think it was done in good faith, but the economy went south, and Point Street Landing failed. As a public company with all of those assets this stock would be $2-3 per share and HFA would be the majority owner. - Let this also be a lesson, never deal with Cornell (or a company that has/is).
A SIMPLE press release would be killer. Cornell is hoping their is dilution and its impossible for the stock to ever make a comeback. But, there are ways to deal with Cornell :D ...not to mention ECGR has a huge Net Operating Loss, which would make it outstanding to offset future gains against.
IMO, HFA/ECGR should do a PR, and evaluate the movement. Then make a decision on how they could move forward. Clearly, HFA can (if it doesn't already) own the lion's share of ECGR. They just have to find a way to make it benefit them. Which, is fairly clear on how to do.
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