AFTER spending almost a full day of DD on DLIAQ I decided to buy a huge amount.
Heres what I found and Why I think commons could fetch much more than current prices and ultimately could end up with 10-20cents per share.
First I dug into the Assets/Liabilities of the company to get a real grip on where we stand, this is what I found based on filings from the past 2 days.
Assets = $34Million vs. Liabilities = $37Million
Sounds like Liabilities outweigh assets at first but then you dig deeper into the filings.
The Liabilities mainly consist of payments due to Salus Secured creditors ($18.5M) and $ owed to Vendors. There is also $11.4M in Liabilities for un-spent gift cards which as of January 27th, 2015 are UN-REDEEMABLE. This will be removed from the liabilities on the next report imo.
This would lower Liabilities to $26Million. Which puts commons into a 10cent range per share alone.
As for the Assets, they list cash on hand(~$1M), bank accounts(~$9M), investments, inventory ($20Mill) and accounts receivable(~$4M).
The total assets as of Feb 11th Court Filings is $34Million.
As for their inventory, $20Mill in clothing, This would put the value much higher than 20 cents.