I cant believe how many people believe in some sort of conspiracy theory  as the reason the stock is now at 4.74.

If the stock is way undervalued- then buy- very simple- few seem to realize that oil service companies sell at four to five times future cash flows- with 80mm shares outstanding right now the market expects future cash flows to be around 80 mm- and 80 mm drives a price of around 4.75 a share- If you think cash flow will be not 80 mm and 160 mm then buy- if it turns out to be 160 then stock will go to  a share and you win.


Myself- i do not think there is a hope they will come close to 80 mm cash flow in next twelve months- If you look at receivables, you soon realize there is almost no cash flow- what they call cash flow is simply an increase in their receivables-

I do agree that all the analysts came out with 10- 14 valuations and said they  will keep their dividend . these guys should be shot to use a word!!!

I find this very troubling - and it might be as they had little time to look at the numbers-  most of these reports were made very quickly prior to market opening the day after the release- or they may still think there is a chance of getting in on the next financing- I don't know- but I expect over the next few months their  reports to be revised significantly  downward-  will be intesting to see who goes first--the bank will not let  PSN  pay the dividend after Jan 1 and will probably cap their line at 40- 50 mm- and anyone looking at the quarter who can read financials saw that the entire dividend from June to Sept was financed by the bank loan- all 22 million


so please don't blame the drop to 5 bucks on a short conspiracy or paid bashers or other really stupid ideas- its a free trading market and the market is telling you what the price should be based on current information.  After that quarter there were no buyers- so when it opened, they simply kept lowering the price of the stock until a buyer appeared at five  bucks or so. and opened trading .My view is that  news on PSN  will get a lot worse over next few months- and thus stock will go down  from here- nothing to with shorts

sorry bout the IBIDA and EBIDA of last posts lol

so- the proof will be if stock goes higher or lower in next few months- - If it goes lower- there will be lots that blame it on the shorts  again, and bashers, and they will hold the stock  for ever-  and even then ,if it goes under, due to running out of real cash not accounts receivables- they will say its all the shorts fault- never management or lack there of. I do hope it goes higher as still have a few friends in this - but I think its very very unlikely.



yes this is a dooms day prediction but unless magement lears how to manage they will go under - its just a matter of time- and that is why stock is so low- buyers can see the numbers- and if you can understand numbers and not conspiracy theories- you are a seller not a buyer