Nuvectra Corp. (fka NVTRQ)

[liverless]

Statement of financial affairs came out Monday. Highlights (imo) are:

- secured creditors $13.5mm
- unsecured creditors $6.2mm
- cash $9.7mm
- inventory $13.7mm
- property and equipment (depreciated book value) $4.3mm
- NOLs $115mm
- they don't assign a number value to Algovita or Virtis of course but do list as assets

The stock right now, at a market cap of ~$2mm, is reflecting so little in terms of what Algovita and Virtis might fetch in the 363 auction (not to mention assuming none of those NOLs are worth anything post-bk). It doesn't take much of a stalking horse bid or even better bidding war to drive that equity value up significantly. The risk is obviously total loss to equity, but the potential reward here is multiples.

http://www.kccllc.net/nuvectra/document/1943090191210000000000008