I don't care about his history. Lets do some basic math. Assuming he's going to dilute lets take the A/S and multiply it by the price. $450k. You can barely get shell companies for that. Much less a company with a ***positive book value*** and ***positive gross profits*** (not net).
The margins are good enough where if demand picks up this company has the potential to be net profitable. Now why would I wait till the price is trading near pennies if that were to occur before I buy?
Now could he raise the A/S? Sure. It's been done. But i'll worry about it if we even get there.
Did you read the story of GGP? Ackman bought those shares for under $1. I'm sure everyone told him that the commons would be worthless and that he was nuts (he took a bigger gamble than this). Now he's up 1700%. Not bad.
I'm either going to make a killing or lose a portion of what I put in. I'm happy with that.
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