The stock plummeted to $2.19, deepening a year-to-date decline that has now wiped out 72% of the firm’s market value. This sharp reversal stands in stark contrast to the same period last year, when the company posted a $38.5 million profit. Revenue fell 24% to $56.4 million, reflecting the company’s weakened financial position.

Management confirmed the dividend freeze is necessary to navigate upcoming debt maturities and clear legacy assets from the balance sheet. With debt financing for the loan portfolio rising from $10.48 billion in June to $10.75 billion by the end of September, the focus has shifted entirely toward liquidity and debt resolution.