Wednesday, June 17, 2020 10:26:50 PM
The company has 1.1 Million shares outstanding and generates consistent income of around $16 Million a year.
Since its not a hyper growth company but consistent earnings potential; figure a PE ration of around 12. Now it has a few preferred shares outstanding, not too many but a few.
So I figure a value of 160M or so on the common; which is net of the preferred. So, i get a simple value of around $140 a share.
Not perfect as no things are.
The company is held down by mis management and other constraints. But, if it were for sale... would you pay 150M for a company that generates 16M a year?
How about $100M? considering it has some very poor management?
If i owned the whole thing, had barriers to entry in a area, a duopoly....
Well, at just $110M in valuation on 1.1M shares outstanding, now this is all ruff math, then an easy $100 per share would be in order. (discounting some of the ugly).
What woould keep the company from trading at fair value?
Management?
Well this is Fannie .. Get management out of the way and set a clear path ... and share value is $100.
If you needed to raise money to sell this income stream why would management do it at 1/20th of fair value unless it was trying to give away the company.
Giving away the company or allowing it to occur, regardless of the fairness opinions that will be bought and paid for by mis-management to MS or whomever, is still a taking. Its taking my "%" ownership and devaluing me and they can't do this without providing me just compensation lawfully, sure they may do it, but it will be unlawful and will be challenged.
So, this is where i sit. waiting for the righteous to win. Its just taken far longer than it should have...
But, government is greedy and looking for more ill gotten gains and windfalls. How despicable the behavior.
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