That was about what I expected.
Revenues are further out than originally stated. They are basically in my mind saying they EPI wafers are taking to long. I think they have a plan to fix that, by either buying equipment or buying another company. Either is fine with me. They got beat by the bankers, but I feel like they think the relationships will pan out in the future SP. Something I have said repeatedly, you gotta pay to play, I think the price was to high, management doesn't. Fine, we will see what type of American funds start pumping this thing and see who is right. They are taking a pay cut, good, better not try to grant themselves options until this price rebounds to at least the mid .70 range where it was before they did the PO.
I still think a loan would have accomplished all the things they wanted to do without destroying 100 million in market cap. everything except the American institutions. So I hope they really like whoever bought because they paid dearly for it.
All in all not bad, I am a buyer here now.
Bcd
