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Post# of 4713
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LouisDesyjr

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LouisDesyjr

Re: Value_Investor post# 4368

Sunday, 07/31/2016 4:03:58 PM

Sunday, July 31, 2016 4:03:58 PM

Post# of 4713
Difference between assets and value

The company does have assets in the order of $77 million. The problem is that the company also has liabilities of $129 million; so the VALUE of the company is $77 million minus $129 million or a negative 52 million.

This is why the company is being liquidated.

Looking at the assets, they are all what I would call 'fixed value items'. The largest asset is a receivable from another company, so at best, that asset will be realized at 100% and not for anything more than that amount. It is also probably that the asset will not be realized at 100% and the losses for the creditors will be a lot more than the $52 million the company is 'in the hole' for now.

Louis J. Desy Jr.

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