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I think FFN is doing a good/decent job. The loss statements are a bit overstated. There looks to be a healthy nucleus, they are taking the profits and re-paying back the debt over time. It looks like they continue to cut the fat, and got hit with some unfortunate 1 time fees like the $15m settlement broken in to 3 - 5m parts.
I think if there's any real problem, it has to do with little public support for the stock (Harry, Jane, and Main Street or institutional investors buying into the stock). I think the only real losers might be the public shareholders who bought into the IPO or are long. I'd bet the debt holders get paid. I'd bet the insiders are collecting their salaries. I just don't think there's a lot of demand for the shares and I'm not quite sure if demand for their shares will really influence their operations.
If the stock trades at $1 or $3, or $7 what does it change? All it really means is their ability to raise money with future issuing, or then insiders being able to exit to the public market is reduced. They can still just operate the thing, collect salaries, pay off debt in time, etc.
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