Hmmm a few thousand days..?? Probably not. More like a few hundred which is just about the time this CUSIP will resurface under a different ticker. These Pink Sheet issues NEVER die, they get recycled forever.
Due to the terms of the WIFS loan the Kelley's held the controlling interest in EI even prior to the bankruptcy. Post bankruptcy settlement can only result in a bigger slice. Once the dust clears don't be surprised to see Waterloo go public with this CUSIP.
If Value Investor can get all of the float (25M) for $2,500 and wait for the resurface, because they ALWAYS do, it won't be a bad move.
Buying the entire float for the next use is a FAR superior risk/reward move than buying the stock at anytime when Clint, Momma and Buddy Boy were at the wheel.
I'm guessing there were more than just a few who spent much more than $2500 on EI stock to get ziltch. $2500 now will result in some sort of return. Only question is when.
I find it very, very interesting that Waterloo is currently reconstructing their website. Looking at the L2Q depth chart there are 3 consistent bidders still accumulating this. One is VI, the other WL and who is the 3rd ???
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