John, Roy, Turt, and of course Sean, thanks for the kind comments, even though it was more lucky timing than any skill. I still think IMOS is undervalued. But unlocking that value has been an unnecessary tortuous process. Maybe I'm overthinking it I but I still have some nagging doubts about whether a merger with 8150 will be realized. I know that saying a merger or acquisition may not be completed is standard language - I just heard it this morning on a cc for another stock - but its a bit unlike SK to have mentioned that to me last year w/o purpose. This isn't the kind of thing that happens everyday and at times it sort of seems they've been driving with only one headlight working, sometimes changing direction a bit. It's legally complicated. Maybe more so than they expected. We'll see. Assuming it does occur, I think it happens next year.
Sean, I'm happy to see you haven't changed. :-) You were one of the first bulls to sour on management/the BOD and you were right all along to be cautious in your views. I haven't kept up with the board but I'll try to check out EXAS and check in later this year. I'm glad to see all you guys still posting. Good luck.
Hey everyone...it's been a while. Some personal matters have been monopolizing my limited free time plus - wait for it - I sold out 95% of my position. Some time last year I decided to bet with the house (i.e. against management suddenly becoming IMOS shareholder friendly) and sold covered calls. Worked out OK; when I sold out in January, I think, my adjusted price was in the high 20s. I still hold some shares and want to see this thing through to whatever conclusion but my exposure is nothing like it was and I have no L/T sentiment rating.
I saw the press release and was not surprised about the time table or lack thereof. During my last conversation with SK last year he briefly outlined the process (w/o giving dates) and also said they would have to decide whether merging 8150 and IMOS was feasible. That raised an eyebrow. I thought the whole purpose of this rigmarole was to do just that. You would think that would've been the first thing they confirmed four years ago when the ball started rolling. I suppose that was just another point that made me lose faith; the uncertainty, the snails pace process, the lack of communication, and baby steps toward increasing shareholder value. I dare say, even now I wouldn't assume 100% that a merger will occur.
I read some of the posts today and feel your frustration. On the bright side, I did sell most of my holdings and that has often been a reliable buy signal. I hope IMOS eventually reaches its fair value. I'm even tempted a little to rebuild at current prices. However, with new purchases I need more conviction.