Aug. 5 at 2:28 AM
$SPRU First of all, the market seems to disagree with your bearish thesis big time! Second, cash, refinancing, and so on are not discussed in the proxy, for which I voted, they are discussed in 10-Q. Nothing unusual, this is how the process works in the industry to refinance the project specific debts. The company established the Texas office in 2023, and is now moving there fully, nothing new. The only positive thing, in my view, is the company is now in the same state as Steel Partners, which owns almost 19% of SPRU shares, and the CEO, Jack Howard, is proposed to become board member. Since SPRU management has failed to bring the SP up even though they have turned the business around, Jack's involvement may address this.
