Varchild dumping EAG stake entirely
Just placed the limit order.... *alas*
I don't see a turn-a-round taking shape until the dark clouds lift from the loan shark deal with West Coast. Until then.. The stocks not investable.
The rest of my portfolio is at a point where taking the loss here is not going to hurt / impact me much. Especially when I already have a better company in mind for the cash.
(SWTX) Southwall Technologies is probably where at least SOME of my cash is going to be placed.
That has a stronger balance sheet, profit making quarter after quarter....and a bright future with a nice 2012 catalyst to look forward to.
I can not say the same like that about EAG.
Then we get a report that one of the Board of Directors resigned. SEC filing. Not a press release issued .... an SEC filing... Sorry as a shareholder I take offense to this kind of behavior...hiding things in an SEC filing...versus press release. No explanation given for the resignation.
Well? At least I am giving an explanation for my resignation as an EAG shareholder.
FIX YOUR DEBT and MAYBE I'll come back.
EAG has the worst management for a defense stock that I've seen in awhile.
I mean compare it to FRPT... FRPT = ZERO DEBT paradise city....lots of cash flow... They don't bankrupt themselves in pursuit of acquiring a company.... They don't buy an APSG for $15 million they do not have and can't expect to pay off in the listed deadline given in receiving the money.
That's what I mean by worst management ever.... The C.E.O. is absolutely out of his rocker to leverage the company to such perilous amounts and issue conference calls that shed NO LIGHT on the leverage.
At least DPS makes it perfectly clear how they are handling their leveraged debt....they shed lots of light on it and provide timetables explaining how much further they have to pay it all off.
Where's your time table EAG???? You don't have one do you??