That's good, not too deep. We are really playing with fire in...

That's good, not too deep.
We are really playing with fire in companies like these.
My conclusion is that I was right to be uncertain and wait for a turnaround, it could have gone either way.
Similarly I am not certain now, it could survive or go under but why play the odds like that?
It's better to identify those handful of companies with adequate performance and position that I can determine are extremely strong and cheap.
MRM may survive if the sale proceeds come through but it needs a recovery in demand for services which may not arrive in time. It has to keep spending to maintain vessels, pay interest and restructuring costs which are often high.
That $20m normalised EBITDA sounds pretty weak and that was before losing the supply base.
If I was a gambling man/speculator rather than an investor I would say it most likely won't make it but I don't know that so my sentiment is hold.
You were in good company, so called "value investors" like dang and Forager bought into this and did some dough. Some winners some losers these guys will do ok because there's a lot of upside to companies in strife.
If I succeed in only picking winners on the other hand then I will do better.