I don't think the financial management was stupid, I am leaning more towards the fraud side of the ledger. There is no doubt in my mind that the quarterly financials will have to be restated, but in the meantime, the BOD must ask for, or the regulatory authorities will have to impose a CTO until this mess is sorted out.

 Keep in mind that the longer this does go on and the messier it becomes,  more folks will become targets for lawsuits. I would be shocked if the regulators are not in contact with Poseidon management and they aren't asking some difficult questions. The postponement of the dividend should have put them on to the case...

Kherson