Registered: Aug 2012
08-26-12 04:53 AM
I read their most recent 10-Q and they're just inching into the red now, though they've obviously been in decline a while.
They have a pretty decent cash pile and new credit line and some convertables also to burn through before they're empty, though it will invariably end that way IMO.
They might be able to hold out another 2-3 years.
Though equity in such an operation would be worth next to nothing long before they actually fold.
Good short for the forseeable future, I don't think anybody would pay money to take that over either, the model is done not the company itself.
Do your own due diligence of course, but long dated puts seem sensible.
No strategic acquisition, unless Schulze of Best Buy wants a bigger ship to go down with or something crazy like that.