Called in and listened to the replay but had a hard time understanding what management was saying. Their English could be improved but if they just spoke a little slower it might help quite a bit. Two positives:
1) the most recent client signing was a tier 1 insurer and could lead to additional business from them
2) Russell Cleveland from Renn Capital (was COVR's largest shareholder) called in and mentioned that it was a good quarter.
My own take is that they desperately need to implement some cost controls. Some type of restructuring with layoffs to reduce costs would be welcome......too many people with fancy titles.
Think that management had previously mentioned that depending on market conditions they might not continue with the project. Looks like yet another write-off is coming............
No idea if it was a coincidence or a coordinated pump but there was a decent % move up and of course now we're seeing it fall off the cliff again.
Nice article....first real discussion I've seen of pricing issues which appears to be a favorable scenario for PESI.
claims massive insider buying.....all purchases but one are Lloyd Miller. No position but my gut feeling is that
this is being set up for a sharp drop in price. I continue to wonder as to why they have yet to do asset write downs.