They sold most of their profitable assets to reduce debts and improve cash flow. Diversified into investment recently-risky move. Issuing rights and flooding the pool with saturated shares to raise even more funds.
If you had been keeping track. Worldwide hedge funds have not been doing well, losing money since the start of the year.
Net profit was $0.03 million last quarter(viewed from poems)
This upcoming quarter would show their results in diversification.
Reply to @hitoshijun : Which profitable business did they sell? I am interested to hear your answer.
What about the p&l and the business model? Previously was recommended counter now suddenly all bad? Anything changed? I'm vested at very high price.