Lee was indicted, not the company. From what I understand everything was above board after 2009. Moreover a buyer will do his own DD and might find there are valuable assets. If so, the buyer does not have to buy the company (as they don't in most case), he buys the assets from the company. Granted we would not get all of the so called "good will" benefit, but possibly we would get the book value plus, if there are several bidders.
I agree the best resolution for longs would be a sale of the company. I would take $3 in a minute for my 60,000 shares and if they could put something together before it reopens, the shorts will get burned in a big way. I still believe this is a very legitimate company but there just seems to be no hope for us as it relates to the current management being able to guide us through these issues. Now with Lee is jail, his reputation at a minimum is gone and if the company is legitamate, you would think BTU or other companies might consider purchasing it to leverage the gains LLEN has made in China. And China is going to be using lots of coal for a long time. I wonder if we longs can go after Lee personally due to the fraud he committed when he initially filed with the SEC. Or possibly go after Kabani. Somebody missed the boat on this in a big way.
We cannot be sure that current management cannot guide us through these issues. I was looking at the BOD, advisory board and management below Lee. How much of it is puff that is always included in resumes, I have no idea. But on the face of it, these are people with a great amount of experience and contacts. Many times we see the benchwarmer outshine the regular, if given a chance. The BOD might find a new CEO who could be a whiz kid. If Barlett did not perjure himself, the assets are intact. Management has much to lose with their stockholdings and Lee has a lot to lose, if the company goes down. We have no choice but to wait and see what materializes over the next 6 months.
Have you joined the new board. We have over 70 members and I think we will be voting on our options soon, but you if you are not a member you will not be part of anything we put forth as far as any Legal Suits against Geo or anyone else for that matter. I urge you if you have not already joined, to join today.