From the press release we are finally understanding the depth of GMXR's woes based on the "potential restructuring of the Company's balance sheet" but additionally the reserve estimates. For the last year I have emphasized the need for money to run this company but additionally that the oil/gas assets as valued on this blog could be grossly over-valued. Considering that management has repeatedly proven themselves inept; that the balance sheet was terrible... the assets were "the" play for an investor. Now, "whisper" numbers for asset valuation seem false and the stock is in a freefall. The small investor is helpless here as GSO can work these press releases to their benefit. We will see what happens but any stock issuance will be to GSO and it is very possible they would gain control of the company. Debt restructuring would come with an infusion of cash, a new management team, With GSO control, it remains to be seen what value will be left to the common shareholder. Great theater.
hey reality GMXR is a 30 cent stock, it was 70$ in 08? read the tea leaves, they have been holding this together with duct tape and baling wire, they just USED share holders to buy coffee? get the picture! jmo