in fact he talked about in in the CC. He can do it again, otherwise WAVX will have a negative Net Worth, which means they can seek protection under bankrupcy and reorganize - which means we investors could lose everything.
As you know (I think), I've said many, many times, and as recently as last week, that I rather expect to see the current shareholders nullified eventually.
It drags on and on, and somehow never quite seemed to be near at hand. But seeing you talking about the possibility is a shocker. It really is getting precarious.
I do NOT want to end up right about this. But I simply don't think SKS has what it takes to get them through this.
I don't buy the "they're doing it on purpose" theory. But who knows? All I know is they are inept and the company is on the brink.
The one thing that will REALLY pissmeoff is if they declare b/k and carry on successfully without the original/current "loyal" shareholders. But I've seen it WAY too many times already in my nearly forty years of investing.
Do you think the rose glasses crowd will even flinch if it happens, or just happily ride off saying "it ain't their fault, it's MINE."
D&O
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