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Thursday, August 30, 2018 2:52:56 AM
It appears the purchase orders are in place, the rigs have been sourced, the refurb work must be completed, and the finished product must be delivered and set up.
Worst case perhaps oil drops (unlikely but possible) and several PO's are put on hold. Perhaps the cost of raw materials and labor were underbid resulting in profit margin pressure. It could be difficult in this booming economy to hire enough welders as hundreds will be needed, a problem rectified by offering a higher wage. There are other possible issues as nothing this size ever goes perfectly as planned, but even with these potential pitfalls there is such a high profit margin on this type of work that the valuation would still be way higher than .0095.
The high valuation of $3 per share i have pretty much disregarded. It is just too silly to comprehend. The $1.20 per share is around best case scenario with half that being more realistic so let's say 60 cents per share. Well if the above bad scenarios all happen, would a 25 cent valuation be surprising? That is about my worst case scenario.
25 cents! And a lot needs to go wrong for that to be our peak.
I am buying. Anything under 5 cents is a screaming bargain.
I moved 15 gees over from my money market to Etrade that will land at 6am Thursday. Time for the big dog to go share shopping. Would love to snag a millie and a half at 1 cent, and will certainly jump on any pullback like a beagle on a poodle in heat.
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