Spoke to a fellow from Investor relations from Poseidon. What I learned from the conversation wasn't very much. As you all know their BOD are working on mainly the AR which was $125 million in the last quarter. The company has 81 million outstanding shares of which I own 28,000. My entry point was $4.70 . The comany has debt of 56 million dollars therefore the market cap of the company is currently $137 million dollars.. He couldn't tell me exactly when their BOD will be coming out with some news but they are diligently working on collecting their AR's & continuing to operate & generate revenue. The question is how much revenue which is something I asked him but he didn't give me an answer. A Globe & mail report projects that Poseidon will come out with a positive 5 cents per share in their 4th quarter which would be half of their reported 10 cents per share in their 3rd quarter..
He couldn't give me any advice on selling at this level or holding on for better days in the future which is an unknown..