Well, DLIA managed to sell the Alloy subsidiary for $3.7 million in cash + $3.1 million in liabilities. This total value is a little more than 50% of the reduction in DLIA's available cash over the past 12 months. While I'm not sure if DLIA management could have expected to receive more for a unit that they openly wanted to divest, $3.7 million confirms that DLIA will have to go back to the market at some point to obtain additional funds in an effort to achieve a turnaround.
Combining DLIA's precarious cash position with the market (many of the retail apparel co have issued disappointing earnings), I still think we go down from here. I will wait for $.70/share.