Friday, July 01, 2022 6:14:24 PM
There was this company once, China Ceramics. With over $100M in (net) receivables and only a $15M market cap.
Silly me, I thought they would be able to pay cash dividends (as they had done in the past). Of course it all went down the drain (after I bought the stock). Actually, I still got out in time.
The banks offered $500M for this company a couple of years earlier (and wanted to relist it in China for $2 billion or so) but it was turned down by the Board. Of course it was all downhill from there. This can only happen in the China space, as it usually does. Probably not worth your breath. And this is just one example.
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