Eaco Corp (QB) (EACO)

[jbaxter]

It will be this quarter. Last Q was May 31, 2014. In that Q:

n March 2014, the Company entered into an agreement to sell the Sylmar Properties. As such, the associated land, buildings and improvements and related liabilities were reclassified as assets held for sale and liabilities held for sale, respectively, on the accompanying consolidated balance sheets as of May 31, 2014 and August 31, 2013. In June 2014, the Company completed the sale of the Sylmar Properties for $9,125,000 in cash and paid the related mortgage off in full.

Assets available for sale: $7,483,000 on the balance sheet. I would assume the difference would be the gain on the asset. The liabilities which I assume was the mortgage and paid off, thus the difference from that and cash received less closing costs if not included in that $9,125,000. would be added to the cash balance. If you don't agree, let me know. I didn't buy this stock for a one quarter non-recurring gain, I just like the value here, and that is a nice kicker. I was surprised to see someone also follow it on SA, and that person seems to have come to the same conclusion (and no, I didn't write it).