Too many negatives. This stock will have to establish a base, and gradually climb out as fundamentals improve. That is a longer term process. I was a bagholder, but cut my losses. Will watch, and maybe get back in when things improve.
I made a little money on this stock a couple of times watching it spike with LFB. I bought back in at 14, but got out when they cut the dividend and announced the dilution. I'm glad I did.
Just what do you think the price per share of the new stock offering will be? Generally you sell stock when your shares are up. Qwest has a cute thing that they've done with convertibles on a debt buyback. But if you've got to sell stock when you're losing money to pay the interest on your debt, you need new management before it's a five dollar stock.