Nobody seems to have a clue as to whether a sale is in process or not. Wouldn't it be fair for the company's Board of Directors to inform shareholders of the situation. Almost a year since the "Auction"(was there one) and everyone is still very much in the dark. Thought it was a Public not Private company.
What is it you are in the dark about? Everyone around here amazes me. They signed a LOI on Oct 15th. Its a public/private consortium. It takes some time to put pieces together. Not rocket science. If they were NOT making progress/going through with that, they would have to disclose that. There are SEC regulations. They have to follow them. Let them do their thing. Patience always wins out. Think about it a minute what does a "public/private" consortium mean? That will help u realize why its taking a lil longer and why its prob quite a unique transaction.
This deal is NOT going to happen and I am willing to bet you have no understanding of the "real" investment world. The company signed a NON Binding agreement with a group representing another group of individuals. These are called "Dreamers" in the investment banking world. It was clearly stated they are going door to door with their hands out begging for donations so they could come up with the "cash equity" also know as "skin in the game" required for any legitimate investment group to entertain such a request. No risk = No backing!!!
The company has finally realized this was a stupid path to take and now contemplating other avenues although they do not have a single clear path based on the veil of secrecy surrounding such a non-sensitive issue. The company should be openly reaching out to its investor community for possible suggestions and be open to discussions.
The last words we were left with after all the negative comments on their lack of communication is they hope to have something to tell us in three months. Confidence in management regarding the Titanic assets has vaporized. This is dead money for a long time to come.
So what do you think now ? You belittled me with your reply but it seems to me that I was right. There,s no deal going on and never was(of any serious consequence) To quote you" it's not rocket science" to realise that is it? I hope you kept all your shares if indeed you ever had any.