I deleted my Prior Post #172 as I tried to clean it up (easier to read). The numbers are the same.
Trend- The Abbotsford amount of $1.3M was not the actual proceeds to the company. The sale to the company was $725k for Furnishings, fixtures and equipment plus inventory. I know the article states $1.3M but that is not what they paid DINIQ per PACER.
WallStreet61 - Forgive TrendTraderz for being on autopilot. He bought 50k shares at $.0016 for a total of $80. Him logging onto Pacer to check sales would cost him more than his investment. I went back and checked all his numbers and I'm not as optomistic as him but I expect a double from here.
Property Sales:
Goshen, Indiana - $550k
PA Property turned over to WellsFargo - $0
Haleyville Property- being leased via DINIQ - $0.
Red Bay, Al - nothing yet
Cash $1.0M
AR - $1.3M
Physical Property (fixtures etc) - TTrenz found online. His estimate was $200k +200k
Inventory - Haleyville $380k
Inventory - Goshen, Ind - $375k
Inventory - Abbotsford, Wi - $725k
RV business Goshen, In - $155k
Net Customer Deposits (was included in sale @ Abbotsford)
Total Assets - $4.854M
Schedule of Liabilities - $3.5M
Wells states they are owed $400k
To be conservative Total Liabilities - $3.9M
More positives to come -
Superior business in NJ - filing earlier this week states that business will be sold for assumption of lease plus something else. Assume they get the inventory value for the inventory + FFE that is $115k.
Red Bay, AL property (filing states $550k)
Red Bay, AL inventory (filing states $269)
In summary, what I've seen here is the properties are selling for Inventory. The one building in PA is a definite zero.
Re Hayleyville Property: I don't know how to value the lease of the Haleyville AL building as the lease states that DINIQ is going to be the leaseholder and they will make payments to Wells. Not knowing the taxes, etc for the building I figured they would need 8-12 years there to break even to pay back Wells. I struggle thinking that means they are turning it over for $0 value to Wells. I think my $0 is conservative but I don't know how to value it otherwise.
We know they are liquidating and not reorganizing as they are selling the customer lists as part of these deals. My simple math of A-L puts my downside at around the current share price with some upside and we'll know in a month. worth my gamble imo.
