QT, It's simple; once a year they just need to dream up a legal claim and get the auditors to sign off on the expected settlement as revenue. Without that claim, last year's profit was more like 0.5cents / share, so you've just got 40 years or so to wait to claw back the past 6 months.
Alternatively, I've heard members of the recycling industry laughing at CMA; In the past 10 years or so, Meretec has cost 3 different groups of investors their investment. Heading into the commodity meltdown, courageously CMA went LONG on stock. TPI are no longer selling scrap to them because CMA can't pay for it. Debt covenants in breach and re-fin issues must be addressed this FY
You've got to know when to hold them and when to fold them.
CMV Price at posting:
6.4¢ Sentiment: ST Sell Disclosure: Not Held
