Cal Dive International, Inc. (OTCMKTS:CDVI) Tries To Stabilize

[[tagnumber 0]][[tagnumber 1]]Cal Dive International, Inc. (OTCMKTS:CDVI)’s performance during October was horrid. After the stock managed to keep a level and even slowly gain some value after it was notified that it didn’t meet the requirements of [[tagnumber 2]]NYSE [[tagnumber 3]]to have an average closing price of no less than $1 for a consecutive 30 day period things quickly got into control and [[tagnumber 2]]CDVI [[tagnumber 3]]obliterated about 90% of its value in the course of the past month.[[tagnumber 6]] [[tagnumber 0]] [[tagnumber 6]] [[tagnumber 0]]It managed to close a single session in the green during throughout October and the percentile losses became larger as the month came to an end. Investor trust has been lost and a lot of people on investor forums think that it is the management’s fault. The company’s last report, although boasting numbers unlike those of most OTC entities, is still not quite rosy. Here is what [[tagnumber 2]]CDVI [[tagnumber 3]]had at the end of the second quarter of the year.[[tagnumber 6]] [[tagnumber 0]] [[tagnumber 6]] [[tagnumber 15]] [[tagnumber 16]]cash: $2.5 million[[tagnumber 17]] [[tagnumber 16]]current assets: $225 million[[tagnumber 17]] [[tagnumber 16]]current liabilities: $372 million[[tagnumber 17]] [[tagnumber 16]]quarterly revenues: $121 million[[tagnumber 17]] [[tagnumber 16]]quarterly net loss: $29 million[[tagnumber 17]] [[tagnumber 26]] [[tagnumber 0]] [[tagnumber 6]] [[tagnumber 0]]The latest press release from [[tagnumber 2]]CDVI [[tagnumber 3]]came yesterday, about an hour before the market opened. It announced that the company has entered into a Limited Waiver, Agreement and Amendment No. 9 for its first lien credit and its credit facility capacity will be lowered from $100 million to $90 million.[[tagnumber 6]] [[tagnumber 0]] [[tagnumber 6]] [[tagnumber 0]]This managed to stabilize the company stock a little after the 28.57% drop it suffered in Friday’s session and [[tagnumber 2]]CDVI [[tagnumber 3]]closed the session with a 9% gain at $0.109. The total amount of shares that switched hands was well above the average and the 3.4 million that were traded generated a daily dollar volume of $412 thousand.[[tagnumber 6]] [[tagnumber 0]] [[tagnumber 6]] [[tagnumber 0]]The market cap of [[tagnumber 2]]CDVI [[tagnumber 3]]isn’t that big considering it is coming from [[tagnumber 2]]NYSE [[tagnumber 3]]and comparing it to other bloated OTC stocks. Still, the fact that the company might consider other “less satisfactory” measures of financing in order to continue its operations doesn’t sound comforting.[[tagnumber 6]] [[tagnumber 0]] [[tagnumber 6]] [[tagnumber 0]]In any case it is imperative that you do your due diligence and weigh out the risks before making an investment decision.[[tagnumber 6]]