Leading Brands, Inc. (LBIX)

[NYKnuckleballer]

Did some research. In the area where the hot fill bottling plant is located, industrial properties go for ~$120 per foot. Simple math: ~50,000 * ~$120 = $6M. Let's say they were a distressed seller (reasonable assumption) and sold for a 20% discount: ~50K * $100 per square = $5M in proceeds. After that, they have to sell off all that specialized equipment because I doubt they could sell the entire property as a "going concern". They won't get much for the equipment (pennies on the dollar) but they'll get a few shekels (might cover all the selling fees). Even if they only net $5M, that's still more than their current market cap.

Looks like the building sold for $5.55M, the net will be $5M cash by year-end.

The downside is the released on MLK day when the market isn't trading. Morons. No wonder this is a loser stock.