Where to ...supply base?, page-61

No you can't argue on the basis of reality but you can continue with bloody minded delusional thinking.
Everything that happens is positive in your reality it seems.
Raising capital and paying $500m for Jaya, shutting down the shipbuilding operations just a few years later. Then being forced to sell off the best assets at $50m cannot be objectively seen as a good thing.
Again the book value doesn't mean much unless you do the research, those assets may be on the books at 1990's prices for all I know (massively understating their value) while the vessels you are left at the cost to build will continue to depreciate with a lack of work requiring expensive maintenance you can't afford to pay.
In the present environment the assets of the company would reach nothing like book value which is perhaps why the banks haven't shut up shop yet. They have still really screwed shareholders over royally make no mistake as did management fiddling while Rome burnt.
As people in the industry kindly told us the work can't be done from Asia. So stop repeating bullshit.
How much did you pay for your stake?
I am down $8000 on STO but that's not much on 40,000 shares and because I am up $55,000 on CDD, $17,000 on PRG and $5,000 on SMX over the last year I am philosophical about it.
I can wear paper losses on STO indefinitely as it continues to pay down debt from operational cashflow but for MRM the business has suffered a permanent loss of profitability and questions over it's ability to survive.
For me time in the market is my friend as all my companies are profitable, conservatively financed and very cheap but for holders of MRM the clock is ticking. Owning a business that is losing money is never a lot of fun and investing in turnarounds is extremely complex. You are getting swept out to sea while denying anything is wrong.
Just because you are really loud doesn't make you right. Facts and reasoning make you right.
Unless you can develop those you are a walking disaster waiting to implode. Even when I was learning and am absolute speculator like yourself I at least adapted and learnt from my mistakes.