You're welcome.
It really isn't weird at all IMO. The shorts are in control now until the company can provide a catalyst for the value buyers to step in and provide buying pressure to overcome the shorts.
Bad news can be priced in but in our case I don't believe it is fully yet.
I hadn't looked at the Book Value of this yet so I don't know what the pps could potentially go down to before entertaining the BK idea. They really don't have much by way of real assets with buildings, real estate etc.. as the franchisees bear all of those expenses. Their proprietary tax prep software and customer lists are their most valuable "assets" IMO.
The market doesn't act reasonably as we have seen proven over and over in the past 3 years so a $20 Million market cap unless backed by hard, real assets isn't any guide per se for me. It's purely in the numbers at this point and the strategy going forward to retain the business they have and new ideas to gain market share back from competitors or to possibly venture into new service markets to create new revenue streams.
Since we are in formerly uncharted pps territory we have to look at psychological and technical areas of support below here as areas from which to defend and properly price this. .75, .67, .60, 55. and .50 are the immediate levels that come to mind as support in any really negative reaction.
Anywho, just solely an opinion. The earnings call could be great and the stock could march back to over a $1 in one or 2 sessions easily. :-)
DD22
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