In my view, the CEO is being given all the tools to make this a successful turnaround (or more like a reinvention). Cleared the decks (timing could have been better thought out..), got legacy members out, repositioned the business to his liking and is now getting the money to execute.
It's all on him now.
For me, its like a new company who acquired the best parts of BPS and left the garbage behind. Its costing all supporting investors money but I think we can expect to be dealing with a straight shooter that wants to get things done. If I were not an investor, i would be looking to enter it. As I'm already there, its time to swallow the bitterness in my mouth and back this guy to turn it around. If he executes, this is a 3-4 beggar over 18-24 months. Getting some new insto backing in the early days would be great for investor confidence and market credibility.
BPS Price at posting:
31.0¢ Sentiment: Buy Disclosure: Held
