why is LPHI trading at such an outrageous price??? With all of the negative news out there, shouldn't LPHI be trading at about 10 cents. I'm just a bystander on this position with no ax to grind. Should i gamble and jump in or stay on the sidelines?? Good luck to all who hold a long position.
I have an ax to grind (metaphorically speaking) and agree. It should be below $2.00, and that is if you think LPI can turn things around. If not, the company continues to lose over $6 million in legal fees per year, they continue to lose $3.5 million or so, with a cash balance of only $11 million. I guess they are depending upon deaths coming out of the trust with West. LB that is pre-2008 VBT and was never impaired. Good luck!
Note: They claim $14mm in WC but...there was another dividend for $1.8mm or so, another 2 1/2 months of legal fee ($1.2mm to date), and that gets to $11mm. That fact that this money losing stock is so high amazes me.