In 2024 and 2025, After going through legal battles, lender pressure, delayed financial reporting, and delisting threats, have they finally made it through? Or is the worst yet to come.
During the turmoil, the market was pricing them as bankrupt. However they still have profitable underlying business stakes in their portfolio, and have some reputation left as an investment bank.
They cut their massive dividend to shore up cash flow, made substantial payments and refi to their debts, and just now posted a Q3 EPS of $2.91, on a current share price of $7.54.
What are the biggest risks now, and what thresholds are left to cross to be firmly planted on their feet.
I’ve followed the news from a distance. I also was invested previously in Franchise Group($FRG), whose CEO Brian Kahn was accused of defrauding hedge fund clients and cause substantial loss to RILY, and is now bankrupt.