FELPU DD REPORT.
It’s surprising that FELPU - Forsight Energy which crashed out of the NYSE straight into the OTCQX is listed on the OTCX.
This company is penny stock exempt.
(Taken from OTC Markets.)
Foresight Energy is a leading producer of thermal coal. With nearly 2.1 billion tons of coal reserves, we are among the largest holders of coal reserves in the United States and our reserves can support over 75 years of production at our current production level. We operate four mining complexes in the Illinois Basin. https://www.otcmarkets.com/stock/FELPU/profile
Authorised Shares: Unlimited.
Outstanding Shares: 80, 996, 773.
Float: 22, 392, 900. https://www.otcmarkets.com/stock/FELPU/security
52 week low 0.012c
52 Week high $3.97. https://www.otcmarkets.com/stock/FELPU/quote
The press release below gives a good overview of the difficulties that the company faces with declining global demand. https://www.otcmarkets.com/stock/FELPU/news/story?e&id=1476140
However, this poster on twitter has taken extracts from the company’s balance sheet showing that the company still has assets (minus liabilities) of $500m.
On a fully diluted basis of 80, 996, 773 Outstanding Shares divided by $500, 000, 000.00 that makes a net asset value of $6.17 per share.
See the extract from the accounts on this twitter poster’s account. https://twitter.com/t4kingoff
Scroll down to see the FELPU related posts.
See the extracts taken from the company’s accounts on the two above twitter accounts.
It is believed that the CEO has a plan to resume the company’s listing on the NYSE.