M&T could want full repayment soon, considering they gave ultra-cheap financing to BARRY and he squandered it. You might be right about that. I always thought M&T were a bunch of fools for giving such cheap financing. Now that IEC has violated more than one covenant, they may have had enough.
I think you are way off on your other comments. I think everyone has likely had enough. One large customer loss or delay is a serious issue. That's why this needs to be integrated into a larger player. Can Barry really still wield influence on this board? If so, everyone else must be a bunch of derelicts.
The employment thing is one reason I think Barry might not pursue a sale, but I think the Newark plant would likely remain if the company is sold. Newark is cheap and there is a lot of training invested in those employees. Some of their perks might be gone though. Barry will likely be blacklisted in Newark if he sells out, but I think it needs to happen.
10 minutes of disclosures followed by barry nonsense and a few questions (I'm sure there were more in the Q). It got real awkward there. I seriously do not know how anyone can be bullish on the company at this point. If you value money I think you should look elsewhere.
Gross profit margin was down again. If you can't make any money, sales don't mean a thing. How much longer are you longs going to sit in this stock while the broader market passes you by? This co is a piece of #$%$. Barry is an embarrassment at this point. Why is he still there?
This company is a complete mess, people. I don't know why anyone would still hold this stock. Profitability is horrible, debt was up again last quarter. Increased revenues don't mean anything if your margins keep going down. The SEC changed its investigation from informal to formal in the restatement fiasco. SCB was a huge mistake and falls on Barry's shoulders. I see his employment contract was modified...I hope that means they will kick him to the curb ASAP. This company needs a major reboot. Barry is like a cancer at this point. He's gotta go. The wheels have fallen off.