Thats the stupidest thing I've heard or management's judgement is worse than I thought. The stock was trading close to 80 cents at the time. What disastrous market conditions were they expecting where a 36 cent PO would end up being beneficial to existing shareholders and the company? This is ludicrous in terms of the damage they have done to this company, to loyal shareholders and their own reputations as businessman. As Trump would say, its a disaster!
If this theory holds water, this has turned out to be an extremely miscalculated, uninformed decision as now the election is over, and behold - the markets are up! There will finally be some real positive change in the US, the doom and gloom of a Trump victory is highly misunderstood, and we sit with our heads deep under water at 30 cents for a stock that was trading multiple years in the $1-2 range with literally a giant ice berg now floating over top of us keeping us under for who knows how long. Thanks management!
