You need to take the emotion out of it. The reason they went 11 instead of 7 was to reorg. They could have gone 7. Their last report (if I am not mistaken) is that assets exceed liabilities. A sale did occur. We know that. They want the business to continue in some fashion- we know that. They did just ask for an extension on the POR.
I don't know what will happen- but if the shares stay in tact don't be surprised at a couple of cents in the near future. I know that doesn't help you much....but a few cents is better than none. If you find somethign out for sure you could double down I suppose.
It may be slim....but we have hope. If it pans out someone is going to make a mint.
I appreciate your take...I don't view the issue emotionally. I have near 200k shares, but their collective value wouldn't even cover the transaction costs of selling. If it makes it back to a few cents, that would be gravy...I'm just not holding my breath. Yeah, it's a reorg, but the vast majority of reorgs result in the wipeout of existing shareholders. Even if it doesn't happen here, I've been watching Sherman for years and I'm convinced he either is dishonest or clueless. if he remains in control, someone is asleep at the wheel. I hope you make money on your trade...I can see you're going in eyes wide open, so you understand the risk. Me? I wouldn't throw another dime Sherman's way. There are way too many good opportunities out there to keep hoping against hope that this will turn around. I've been doing that for 5 years...I'm done