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Hear Me out…If you are trying to become a serious trader then you need to research LionStockAlerts. They have send me some solid trades recently.
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They have $3m cash on hand. They have 30 million shares outstanding and forecasted to lose 12 cents/share over the next 2 quarters. Cash will be gone and they will have to borrow more or issue shares. In any case dilution is coming for them to stay alive. Not touching this one.
Why did the company abandon the philosophy of maintaining a clean balance sheet? Time will tell if the Delaware Basin property acquisition was a wise move. It doesn't seem like the company is headed for bankruptcy, but what is the plan for shareholder returns? Will there be anything other than puffball questions and congratulatory back slapping from the analysts participating in tomorrow's earnings call?