thats why it trades badly for years because investors dont TRUST the management and rightfully so- The stock has been in tight range-6-9$ for years and you can trade the range. The company is a compete joke for shareholders because EVEN Buffet buys back stock aggresively under book value - CISG should do a tender offer for 8 million shares at 9$-This would dramatically Accretive to all financial metrics but more important it would give them credibility- the market big discount is they dont believe cash is real and CEO is a FRAUD!
Because of the industry-competition- the company should trade at discount to normal value- but if you discount fair value by 50% you still get 3-4$- 1.60$ is a joke. The big negative is the company should return 5-10mill per year to shareholders in a form of buyback/divy.
Makes no sense. the great news is they finished off paying their corporate bond in FEB which should dramatically help their balance sheet plus help income since I believe they were paying 9% yield. nobody cares until they do.