Expenses continue to go up, even though already operating at a loss. Seems like those expenses are mostly compensation, wonder if they raised the rent too which as I recall is paid to a sister company. Someone is doing really well here, just not the general shareholders. Maybe expenses should be adjusted to breakeven until a deal is actually made. That would give some incentive to make a deal, otherwise what is the rush? Espcially if a deal is thresholded on becoming another CEO. I really apologize if I don't have this right, but there is precious little information for an investor to work with here. Just my humble opinion.
I agree with a lot of what you said... not much to work on.. I only got info when I pestered them and Kanders actually called me. Second the expenses... the cost of doing nothing is getting more expensive... this along with low valuations now and depressed IPO market should force their hand. It does seem like there are a few exceptional expenses in their but still.. I agree with you - and it probably bodes well for us to get something done. Third, while most of the NOLs roll off in years.. some will being to roll off this and next year, albeit smaller amounts. Fourth, he does not need to be CEO however I think this is one in the sweet spot similar to Armor Holdings, and this FSS seems like it has been mismanaged and the current CEO is a temp solution there.
The reason s for all of your concerns is why you get to buy all of those NOLs and the mgmt team (which arrogant or not has a track record) for 15 cents over cash right now.