I think the proper placement for AXAS would be the LLC format. The 55 mm cash flow that BW mentioned in the last conference presentation would make this company able to pay a nice PS distribution, and could almost certainly make a PPS north of $8
I think you may mean MLP, a master limited partnership, not LLC (limited liability corporation). You must be new around here. The whole reason this stock is in the crapper is a botched attempt to create an MLP. What this stock really needs is to be taken private by a private venture capital fund. Bob clearly doesn't like the baggage of this being a publicly traded company. He is more publicity shy than Tiger Woods. Maybe Apollo or some other fund will take a look at this and buy it out for $3 per share. I'd sell.
What caused the MLP attempt to fail? If the MLP was realized, then cash flow would have gone to shareholders as return of capital, right? So, while we waited for ng prices to increase, we would at least be getting something while we wait.
Now, what we have witnessed is a very limited trading range. My concern is that one year later, we may still see prices for AXAS below or near 2. Do you know of any other stocks that might be more worthwhile to hold for one year? I can think of a number of them that while they may not be appreciating in value, would at least pay some sort of dividend.
I ask myself weekly, what would have to happen for this stock to see some appreciation? Holding onto this stock for another year with no price apprecation is unacceptable.
I ask the board, why hold onto this stock any longer? (I read posts about how the insider has bought "another x number of shares," normally a sign of confidence in the future of the company.
Speaking of MLPs, a number of them have been increasing their divs for years, and some of the share prices actually appreciate also.