You still hanging on? Just remember this - ESR needs the capital to fund working capital, not to generate new growth. So the money you are pumping in will not generate any new ROE. Worse, it will result in share dilution, and you will be relying on ESR to return to its former glory - only this time you will be receiving proportionally less earnings, because of the extra stock. So the investment case is 1) that they can significantly exceed what they were earning in the past and 2) investors will be prepared to rerate them based on improved performance. If you back this then fine - just make sure that you are not one of those guys/girls that are pumping more money in, so that you can get out at breakeven on an upwards share price move - because that is trading, with a different strategy all together.