Yes, and that sale which the management was so strongly rebuked for here, in hindsight proves to be a lucky one. It was done just after the top while optimism in the sector still good.
Today the price would be quite different.. + TLR will still enjoy the agreed long time discount on drill service from them. In addition, the stock offering before new year maybe not that wrong, had it have to be done today instead.. So maybe the management is not that terrible as some of the long time bashers here maintain.
Well, I don't advocate doing it unless it's necessary, just saying that if it must be done in order to keep listed on the Amex, there can be found some other benefits too, for instance as mentioned eliglbe to be bought by institutions, pension fund and index.etfs if it is above a certain threshold price.
My gosh, just do a reverse split. You dont have more substantial things to worry about?
A mechanical procedure. Afterwards one's stake in the Co. will be exactly the same, the number of shares much less (better share structure). However, institutions, pension funds and others may then buy into it since it's above a certain treshold. + Options can be traded on it too.